Chiquita decides to sell it Colombian facilities

Chiquita brands has announced that it has reached a final agreement to sell its production facilities and port installations in Colombia to Invesmar Ltd, an investment fund which controls C.I. Banacol. Banacol is a Colombian grower and exporter of bananas and other fruit. The deal is worth in the region of USD 51 million. The deal also includes two separate 8-year agreements enabling Chiquita to purchase from companies controlled by the new owners 11 million boxes of bananas a year from Colombia and around 2.5 million boxes of pineapples a year from Costa Rica. Chiquita produces almost 11 million boxes of bananas a year from its Colombian operations, which represents about 9 percent of its global banana volumes.