Make us your home page
Instagram

Beyond Tampa Bay: Chiquita buys Irish fruit and produce distributor

Chiquita Brands International said Monday it had agreed to acquire Fyffes, an Irish fruit and produce distributor, in an all-stock deal that valued Fyffes at about $526 million. The combined companies, which will be named ChiquitaFyffes, will be the world's largest producer and distributor of bananas and will have about $4.6 billion in annual revenue. The transaction is expected to be completed by the end of the year.

McDonald's, the world's biggest hamburger chain, said Monday that sales fell 1.4 percent at established U.S. locations. It blamed the harsh winter weather, but conceded that "challenging industry dynamics" also played a role. After years of outperforming its rivals, McDonald's has struggled to boost sales as people flock to such places as Chipotle and Five Guys Burgers and Fries, chains that position themselves as a step up from traditional fast food in terms of quality, for a little extra money.

The U.S. Department of Agriculture reduced the 2013-14 Florida orange crop by 1 percent from the February estimate to 114 million boxes. The USDA reduced this season's grapefruit by 6 percent, to 16 million boxes. Tangerine production dropped 7 percent, to 3.25 million boxes, from February.

Sbarro filed for Chapter 11 bankruptcy reorganization Monday, the second time in just three years as the pizza chain struggles to turn around its business amid a drop in traffic at shopping mall food courts. The Melville, N.Y., company, which closed 155 U.S. locations last month, has about 800 locations worldwide, half of those in North America.

tHE BOTTOM LINE: The Mt. Gox bitcoin exchange that recently collapsed in Japan files for U.S. bankruptcy protection … eBay urges shareholders to vote for its directors rather than two put up by activist investor Carl Icahn

Beyond Tampa Bay: Chiquita buys Irish fruit and produce distributor 03/10/14 [Last modified: Monday, March 10, 2014 10:48pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Pinellas construction licensing board needs to be fixed. But how?

    Local Government

    LARGO –– Everyone agrees that the Pinellas County Construction Licensing Board needs to be reformed. But no one agrees on how to do it.

    Rodney Fischer, former executive director of the Pinellas County Construction Licensing Board Rodney, at a February meeting. His management of the agency was criticized by an inspector general's report. [SCOTT KEELER   |   Times]

  2. New owners take over downtown St. Petersburg's Hofbräuhaus

    Retail

    ST. PETERSBURG — The downtown German beer-hall Hofbräuhaus St. Petersburg has been bought by a partnership led by former Checkers Drive-In Restaurants president Keith Sirois.

    The Hofbrauhaus, St. Petersburg, located in the former historic Tramor Cafeteria, St. Petersburg, is under new ownership.
[SCOTT KEELER  |  TIMES]

  3. Boho Hunter will target fashions in Hyde Park

    Business

    Boho Hunter, a boutique based in Miami's Wynwood District, will expand into Tampa with its very first franchise.

    Palma Canaria bags will be among the featured items at Boho Hunter when it opens in October. Photo courtesy of Boho Hunter.
  4. Gallery now bringing useful art to Hyde Park customers

    Business

    HYDE PARK — In 1998, Mike and Sue Shapiro opened a gallery in St. Petersburg along Central Ave., with a majority of the space dedicated to Sue's clay studio.

     As Sue Shapiro continued to work on her pottery in St. Petersburg, her retail space grew and her studio shrunk. Now Shapiro's is bringing wares like these to Hyde Park Village. Photo courtesy of Shapiro's.
  5. Appointments at Raymond James Bank and Saint Leo University highlight this week's Tampa Bay business Movers & Shakers

    Business

    Banking

    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. Jackson will oversee all of Raymond James Bank's operational business elements, risk management and strategic planning functions. Kackson joins Raymond James Bank after senior …

    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. [Company handout]