by Melissa Shipman, The Packer
The U.S. pineapple industry is starting to change as various large players are shifting their positions in the market.
Early in 2014, Coral Gables, Fla.-based Banacol Marketing Corp. sold some of its Costa Rican pineapple farms to Dole. In 2015, Banacol isn’t planning to ship any pineapples.
In addition, last year was filled with discussions of a deal between Chiquita and Fyffes, which fell through.
However, on Jan. 6, Chiquita Brands International Inc. and the Cutrale and Safra Groups completed transactions that allowed Cutrale-Safra to acquire Chiquita via its affiliate, Cavendish Acquisition Corp.
According to a news release, Chiquita will continue its strategy of refocusing the business on its core brands.
Brian Kocher, chief operating officer of Chiquita, has assumed the position of interim chief executive officer, succeeding Ed Lonergan, the release said.
“We are proud of the success of Chiquita’s return-to-the-core strategic plan, thank Cutrale-Safra for their support in this transition and wish them long-term success with this great company and team,” Lonergan said in the release.
Alan Dolezal, vice president of sales for Coral Gables-based Turbana Corp, the exclusive North American marketer of Fyffes pineapples, believes it’s too early to tell how various changes in the industry will shake out in 2015.
“Within the context of North American business, the recent acquisition of Chiquita by the Cutrale Group, as well as Banacol’s exit from the market, will both be impactful, although the net effects at this point are mostly a matter of conjecture and speculation,” he said.
In addition, Dolezal expects currency exchange rates, shipping costs and the emergence of new global markets to affect the market conditions in North America.
Source: The Packer