Chiquita has made another sale as it contiues to focus on its core business

Chiquita has made another sale as it contiues to focus on its core business

Chiquita sold out to its jv partner in The Packers of Indian River, Ltd for an undisclosed amount of cash and the assumption of debt.

Based in Fort Pierce, the Packers of Indian River grows and packs grapefruit as well as smaller volumes of other citrus products and its assets include two packhouses and approximately 6,000 acres of groves.

The sale comes following Chiquita's divestment of banana grower Pafco in Panama as well as two other processing and produce concerns in the US this year. The multinational aims to reduce its debt to $400million before 2006. Before this latest sale, it has already rid itself of $35m of debt since the beginning of the year when total debt stood at $482m.

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