Fyffes, Chiquita merger a step closer

Irish-headquartered fruit importer and distributor Fyffes has called an emergency general meeting (EGM) to seek shareholder approval for its proposed merger with Chiquita.

The two fruit businesses will hold EGMs on September 17 over the merger.

There will be two meetings of Fyffes shareholders that day, both of which will take place in the Clyde Court Hotel, Lansdowne Road, Dublin 4.

Both meetings will seek approval of the merger, with other related matters also due to be discussed by shareholders at the EGM.

Chiquita’s meeting will be held at the Nascar plaza in Charlotte, North Carolina.

As well as securing approval from shareholders of both companies, the transaction between the two fruit giants remains subject to additional regulatory clearances.

Proxy statements providing information for shareholders of both companies, and instructions on voting will be circulated in the coming days, according to the company. Shareholders as of September 15 will be entitled to vote at the Fyffes meetings.

The proposed merger of the two firms, which would create the world’s largest banana supplier, was first mooted in March.

Fyffes, the world’s oldest fruit company, has an annual turnover of approximately €1.12bn and has operations in the US, Central and South America and Asia, in addition to its headquarters in Dublin. The company also employs more than 12,000 workers worldwide.

Chiquita’s annual revenues exceed $3bn (€2.23bn) and the firm has 20,000 workers in nearly 70 countries nationwide.