US food firm Chiquita Brands International has announced that it has sold its interest in its Florida citrus joint venture, The Packers of Indian River, to its joint venture partner for an undisclosed amount of cash and the assumption of debt.
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Fort Pierce, Florida-based Packers of Indian River is a produce company that grows and packs grapefruit and other citrus products, Chiquita said. The company’s assets include two packinghouses and approximately 6,000 acres of groves.
A spokesman for the company said the decision to sell its interest in the venture was due to Chiquita’s efforts to focus on its core operations, reported Dow Jones Business News.
