1. Introduction
Chiquita is one of the leading banana market firms in the world, Fyffes plc another.
In 2014, Chiquita’s banana sales increased about 3%, due to higher contract amount, but they also had a decrease in their healthy snacks and salad products. Mostly due to dry weather conditions there has been an increase in costs and less bananas sold.
Some snacks and salads have been executed and price reductions have been made.
The Irish Fyffes is another leading banana firm, recognized by its famous blue label, which also offers other tropical fruits. The deal would have allowed Chiquita to further expand their market area, reduce competition, and slightly reduce costs with some cheaper labor. However, the Brazilian Cutrale group, a leading
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- Safra’s financial relationships enhance value of business part of the group and has a high global reputation for business.
- Neither banana producers
- Different markets
Opportunities Threats
-Increased financial capacity
-New markets
- Weather issues
- Global economy
2.7 Bid Prices
The Fyffes deal added up to about 11.82 dollars per share, which was much lower than the initial CutraleSafra deal at 13 dollars per share.12 However, just before the vote CutraleSafra raised their bid to 14.50 dollars per share, causing the tide to turn their way. According to David Gelles13, that “given how late the recommendation was made, it is not clear to what extent it swayed the vote of Chiquita shareholders.”
Nevertheless, the deal to merge with Fyffes was voted down.
2.8 Gearing ratio and GPM analysis
Gearing Ratio (Chiquita)
A 37% gearing ratio suggests that they are not in the high gearing ratio levels and thus are not a high risk company to merge with or buy.
Gearing Ratio (Fyffes14)
At 40.95% Fyffes shows a higher gearing ratio thus bringing a higher level of risk than Chiquita to the deal.
Gross Profit Margin (Chiquita)
GPM (Fyffes)
Fyffes’ has a lower GPM percentage, however it is also a smaller scale
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