Fruit deal sees Chiquita buy Fyffes for €407m

Chiquita Brands International, owner of the namesake banana label, agreed to buy Ireland’s Fyffes to create the world’s biggest supplier of the fruit for about €407m.

The combined company will be called ChiquitaFyffes Plc, Chiquita and Fyffes. The all-stock offer represents a bid premium of 35%, data compiled by Bloomberg show. Shares of Chiquita and Fyffes rose.

The deal brings together two of the world’s oldest fruit importers, who between them have operations spanning the Americas, Europe and Asia. Chiquita chief executive Ed Lonergan will become ChiquitaFyffes chairman.