UNIVEG completes purchase of Chiquita business
August 19, 2008
by FoodBusinessNews.net Staff
CINCINNATI — Chiquita Brands International, Inc. has completed the sale of its German distribution business, Atlanta AG, to UNIVEG Fruit and Vegetables BV for about €65 million ($92 million).
The companies also entered an agreement through which Atlanta will continue to be Chiquita’s preferred supplier of banana ripening and distribution services in Germany, Austria and Denmark.
Chiquita believes the sale and entry into the agreement will result in a gain and one-time tax benefit.