M&A Deal Summary

Chiquita Acquires Fresh Express

On June 28, 2005, Chiquita acquired food company Fresh Express from PFG for 855M USD

Acquisition Highlights
  • This is Chiquita’s 1st transaction in the Food sector.
  • This is Chiquita’s largest (disclosed) transaction.
  • This is Chiquita’s 1st transaction in the United States.
  • This is Chiquita’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2005-06-28
Target Fresh Express
Sector Food
Buyer(s) Chiquita
Sellers(s) PFG
Deal Type Divestiture
Deal Value 855M USD

Target

Fresh Express

Charlotte,, North Carolina, United States
website
The Fresh Express retail value-added salads market, a fast-growing food category for grocery retailers, foodservice providers and quick-service restaurants.

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Buyer(S) 1

Buyer

Chiquita

Etoy, Switzerland

website

Category Company
Founded 1899
Sector Food
Employees20,000
DESCRIPTION
Chiquita distribution hub in Ft. Lauderdale, Florida.
Chiquita distribution hub in Ft. Lauderdale, Florida.

Chiquita is an international marketer and distributor of high-quality fresh and value-added food products from energy-rich bananas and other fruits to nutritious blends of convenient green salads. Chiquita was originally established in 1899 and is headquartered in Etoy, Switzerland.

DEAL STATS #
Overall 2 of 2
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-01 Atlanta AG

Germany

Atlanta AG is a supplier of banana ripening and distribution services in Germany, Austria and Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-19 Atlanta AG

Germany

Atlanta AG is a supplier of banana ripening and distribution services in Germany, Austria and Denmark.

Sell -

Seller(S) 1

SELLER

PFG

Richmond, Virginia, United States

website

Category Company
Founded 1885
Sector Distribution
Employees20,000
Revenue 25.1B USD (2020)
DESCRIPTION

PFG is a distributor of food products and snacks. PFG delivers food and food-related products to more than 130,000 independent and national chain restaurants, quick-service eateries, pizzerias, theaters, schools, hotels, healthcare facilities and other institutions across the United States. PFG was founded in 1885 and is based in Richmond, Virginia.

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-10 Springfield Foodservice

Springfield, Massachusetts, United States

Springfield Foodservice LLC is a provider of foodservice distributor, provides food products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-27 Vistar

Centennial, Colorado, United States

Vistar Corp. (formerly known as Multifoods Distribution Group, Inc.), is one of the largest distributors of food and other products to the foodservice and vending industries in the United States.

Buy $1.4B
Mergr

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