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Chiquita and Fyffes combine to create global produce company
Chiquita Brands International plans to combine with and Fyffes, an international importer and distributor of tropical produce, in a stock-for-stock transaction that will create a global banana and other fresh produce company with approximately $4.6 billion in annual revenues.
Once the transaction is completed, before the end of 2014, Chiquita shareholders will own approximately 50.7% of ChiquitaFyffes, while Fyffes shareholders will own the remaining 49.3%, on a fully diluted basis.
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What loyalty looks like in 2014
With Amazon’s customer retention rate hovering north of 90%, customer loyalty initiatives are understandably at the top of every retail CMO’s to-do list. Of course, it’s harder these days to find room in consumers’ wallets for another membership card, what with American households belonging to an average of 22 loyalty programs, according to the loyalty research unit Colloquy. But Colloquy also found that each household’s activity was concentrated on fewer than half that number of programs.