Chiquita is now at the hands of two Brazilian companies after several tried to win it. The deal totaled to $681 million.
There have been several rejections made by the company before they landed on this deal. There was a merging offer from Fyffes but this was not approved by the famed banana brand.
Fyffes is also among the highest valued fruit companies today. Their main goal is to bring the company to Dublin. This is to make sure that the tax rates do not affect much in the revenue of the company.
The deal was agreed by the rest of the body. It will take effect late this year. If not, the company has set the deadline until the first few months of 2015. From there, Chiquita will be under Cutrale-Safra. These are the two companies that won the deal with the company.
The deal will cater to the growing rate of people who want to eat healthier products. This is going to be a challenge for the companies who won the acquisition. It is going to be tough to improve the legacy that Chiquita has made in the market. They will need more intensive strategies to ensure high quality produce in a much more competitive price.
According to the company, the huge deal is a decision that will strengthen its market value. They still vow to maximize the shares that its stockholders are getting. On top of this, they are still looking out on the operations that will help them reach success.
It is going to be a double-sided sword for them as they continue to work with their production and their financial decisions. They will also have to look for the competition that may arise any time.