Horticultural giant Chiquita Brands South Pacific (CBSP) is to sell off the Angas Park dried fruit business in South Australia it bought just two years ago.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The decision was taken yesterday [Wednesday] at Chiquita’s annual meeting, when investors were told that the SA business had proved to be a disappointing investment.
CBSP chairman Tony Hartnell told the meeting: “The average working capital for this business is US$16m and it peaks at US$26m.
“Coupled with a performance that did not initially live up to acquisition expectations, this business has had a severe impact on the group.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
