Chiquita buys Fresh Express
Chiquita buys Fresh Express
Cincinnati-based Chiquita Brands International Inc. announced Feb. 23 that it has entered into a definitive agreement to acquire the Fresh Express unit of Richmond, VA-based Performance Food Group for $855 million in cash. The move marks the latest " and largest " development in Chiquita?s resurgence after its 2001 bankruptcy filing. In March 2002, the company announced that it had emerged from its pre-arranged Chapter 11 restructuring "as a healthy company with a solid financial structure." Subsequent to that announcement, Chiquita pared its operations to eliminate its non-core business