' This deal will be transformative and offer exciting opportunities for the new business. We know Fyffes well and our shared heritage will help to ensure a smooth integration as we work to bring best practices across geographies and business units to achieve substantial operating efficiencies.' The combined company will also be able to provide customers with a more diverse product mix and choice. We will maintain our brands, all of which are valued by both customers and consumers. ' This is a natural strategic partnership that combines two complementary companies of long history and great reputations that have built upon an unwavering commitment to exceed our customers' expectations. ' This is a milestone transaction for Chiquita and Fyffes that brings together the best of both companies which, we believe, will create significant value for our shareholders and offer immediate benefits for customers and consumers worldwide,' said Ed Lonergan, Chiquita's Chief Executive Officer. ChiquitaFyffes will have an operating presence in more than 70 countries and a workforce of approximately 32,000 people around the world. The transaction unites two well-respected companies that share a strong brand history, and a commitment to advancing sustainability and increasing access to healthy foods, as well as leading food safety standards. ChiquitaFyffes will be able to access worldwide market opportunities and capitalize on both the growing fresh food business and health and wellness trends by more effectively utilizing its geographical footprint and expanded distribution channels. It is headquartered in Dublin, Ireland, with operations in Europe, the U.S., Central America, South America and Asia.

Fyffes is a leading international marketer and distributor of top quality, healthy tropical produce, marketed under a variety of well-known brands including FyffesВ® and SolВ®. market and widely recognized brands including Chiquita BananasВ® and Fresh ExpressВ®. Chiquita has a global presence with operations in 70 countries, a sizable presence in the U.S. Chiquita and Fyffes plan to complete the transaction before the end of 2014.Д¬hiquita is a leading international marketer and distributor of nutritious and high-quality fresh food products, including bananas, packaged salads and healthy snacks. The agreement creates a global banana and other fresh produce company with approximately $4.6 billion in annual revenues 1. (NYSE: CQB ) (' Chiquita') and Fyffes plc (ESM: FFY ID: AIM: FFY LN) (' Fyffes') today announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which Chiquita will combine with Fyffes, in a stock-for-stock transaction that is expected to result in Chiquita shareholders owning approximately 50.7% of ChiquitaFyffes, and Fyffes shareholders owning approximately 49.3 % of ChiquitaFyffes, on a fully diluted basis. Targeting $40 Million of Annualized Pre-Tax Cost SynergiesД¬ombined Company to be Listed on the New York Stock Exchange and Domiciled in IrelandД®d Lonergan will serve as Chairman and David McCann will become CEO of the Combined CompanyД¬ombined equity value of approximately $1.07 billionД¬HARLOTTE, NC and DUBLIN, Ireland - MaChiquita Brands International, Inc.

Significant Presence in Packaged Salads, Melons and Pineapples Not for release, publication or distribution, in whole or in part, in, into or from a Restricted JurisdictionД¬HIQUITA BRANDS INTERNATIONAL, INC.

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