Chiquita to acquire Irish fruit distributor Fyffes

Chiquita Brands International said on Monday it had agreed to acquire Fyffes, an Irish fruit and produce distributor, in an all-stock deal that valued Fyffes at about $526 million, according to the New York Times.

The combined company, to be dubbed ChiquitaFyffes, would be the world's largest producer and distributor of bananas.

After the transaction completes by the end of 2014, the combined company is projected to have about $4.6 billion in annual revenue.

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