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January 28, 2013
08:20 EDTCQBChiquita says previously announced initiatives substantially completed in Q4
The company said, "As previously announced, the company has already implemented strategic and operational initiatives to focus on its core businesses of bananas and salads, reduction of its value chain costs, reduction of its overhead and selling, general and administrative costs and volume growth. These strategic initiatives were substantially completed in the fourth quarter of 2012 and are expected to drive at least $60M in annual savings beginning in 2013, including $25M for completed headcount reductions and approximately $35M for value chain cost reductions. The consolidation of the company's Midwest salad processing facilities is expected to be completed in the third quarter of 2013 and the company expects to generate $8M of annual savings. The company has expanded its salad program by providing a more comprehensive product offering in the value-added salad market, which includes branded and private label packaged salads, organic packaged salads and whole head lettuce. Since September 30, 2012, the company has added approximately 5M annual boxes of distribution growth in its North American banana business and were awarded private label business from certain retail grocery customers, scheduled to commence at the end of the first quarter of 2013, representing new estimated volume of 1.6M cases for 2013. Chiquita's goal is to achieve operating margins of 4% in Bananas and 7%-8% in Salads in the next two to three years."
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September 2, 2014
08:40 EDTCQBChiquita Brands says Cutrale/Safra $13 per share offer not a 'superior' proposal
Chiquita Brands announced it is mailing a letter to its shareholders that highlights key parts of a presentation the company filed with the SEC in which Chiquita "sets the record straight" regarding the "flawed and misleading" statements made by the Cutrale Group and the Safra Group in connection with Chiquita's proposed combination with Fyffes plc. According to Chiquita, the $13 per share offer does not constitute a "Superior Proposal" and the Board will not negotiate a sale of the company at an inadequate price. Chiquita added that Cutrale / Safra has had the opportunity to revise its proposal and has chosen not to do so and "there is no reason to delay or risk the ChiquitaFyffes transaction."
August 28, 2014
17:38 EDTCQBChiquita Brands holders urged to vote Cutrale-Safra GOLD Proxy Card
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August 27, 2014
15:09 EDTCQBCutrale-Safra says Chiquita board irresponsible in promoting Fyffes transaction
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09:30 EDTCQBChiquita Brands' board recommends shareholders vote for transaction with Fyffes
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05:30 EDTCQBChiquita Brands, Fyffes now see $60M of annualized pre-tax cost savings
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August 26, 2014
05:44 EDTCQBChiquita Brands announces share acquisition ny executive officers
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