Chiquita Banana
 |
|
| Private | |
| Industry | Agriculture |
| Founded | March 30, 1899 |
| Headquarters | Charlotte, North Carolina, U.S. |
|
Key people
|
Andrew Biles, President and CEO |
| Products | Produce, primarily bananas |
| Owner | Cutrale and Safra |
|
Number of employees
|
20,000 |
| Website | www.chiquita.com |
Chiquita Brands International Inc. is an American producer and distributor of bananas and other produce. The company operates under a number of subsidiary brand names, including the flagship Chiquita brand and Fresh Express salads. Chiquita is the leading distributor of bananas in the United States.
Chiquita is the successor to the United Fruit Company. It was formerly controlled by Cincinnati businessman Carl H. Lindner, Jr., whose majority ownership of the company ended when Chiquita Brands International exited a prepackaged Chapter 11 bankruptcy on March 19, 2002. In 2003, the company acquired the German produce distribution company, Atlanta AG. Fresh Express salads was purchased from Performance Food Group in 2005. Chiquita's current headquarters is located in Charlotte, North Carolina.
On 10 March 2014, Chiquita Brands International Inc. and Fyffes plc announced that the Boards of Directors of both companies unanimously approved a definitive agreement under which Chiquita will combine with Fyffes, in a stock-for-stock transaction that is expected to result in Chiquita shareholders owning approximately 50.7% of ChiquitaFyffes and Fyffes shareholders owning approximately 49.3% of the proposed ChiquitaFyffes, on a fully diluted basis. The agreement would have created the largest banana producer in the world and would have been domiciled in Ireland. Though an intervening offer by Cutrale and Safra groups of $611 million in August 2014 was rejected by Chiquita, with the company saying it would continue with its merger with Fyffes. On 24 October, Chiquita announced that the shareholders at a Company Special Meeting had rejected the merger with Fyffes. Instead the Cutrale-Safra acquisition offer was then accepted by the shareholders.
Chiquita Brands International's history began in 1870 when ship's captain Lorenzo Dow Baker purchased 160 bunches of bananas in Jamaica and resold them in Jersey City eleven days later. In 1873 Central American railroad developer Minor C. Keith began to experiment with banana production in Costa Rica. Later, he planted bananas alongside a Costa Rican railroad track to provide revenue for the railroad. In 1878, Baker partnered with Andrew Preston to form the Boston Fruit Company.United Fruit Company was founded in 1899 when the Boston Fruit Company and various fruit exporting concerns controlled by Keith merged. In 1903, United Fruit Company was listed on the New York Stock Exchange and became the first company to use refrigeration during open sea transport.
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