Chiquita has revealed that it has acquired the remaining 40 per cent of shares in its Chilean joint venture from partner Enza. The deal has not been made widely known as "financially speaking it is a relatively small transaction," a Chiquita spokesman told freshinfo.
Chiquita went into the joint venture with Enza in 1998. "It was in an effort to strengthen our position in other fresh produce," said the spokesman.
The company, formerly known as Chiquita-Enza Chile, accounted for 7 million boxes of fruit annually. Of this total, 55 per cent was grape, 26 per cent stone fruit, 13 per cent top fruit and six per cent kiwifruit. Produce was exported predominantly to the US market.
The purchase of the remaining shares does not have an impact on the day-to-day running of the business and has not led to any staffing changes.
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