Chiquita may sell Colombia banana operation
Jan 26, 2004 12:00 PM, from staff and wire reportsChiquita Brands International Inc is discussing the potential sale of its banana-producing and port operation in Colombia to Invesmar Ltd, the holding company of CI Banacol SA , a Colombian-based producer and exporter of bananas. Discussions also involve a potential long-term agreement for Chiquita's purchase of Colombian bananas.
These discussions may or may not lead to an agreement or a transaction.
An international marketer, producer, and distributor of bananas and other fresh produce, Chiquita produces some 11 million 40-lb boxes of bananas in Colombia. This represents about 10% of its volume sourced from Latin America.