Fyffes Share Discussion Threads

[ibug] 27/2/2015 08:30

Agreed a good set of results--they depreciated the value of an under performing pineapple farm to offset taxes and they got the Chiquita compensation.

Fyffes are now looking to buy another company/ farms to expand operations.

Following termination of the proposed merger, Chiquita paid US$23.3m (EUR18.6m) to Fyffes in respect of its obligations under the terms of the merger agreement.

So the business is still growing and expanding.

[battlebus2] 27/2/2015 07:48

Results out, and a good set of results they are imv.
No special dividend due to the costs of the Chiquita deal and the remainder 4.2 used on a write down.
Actively pursuing a number of acquisitions.

[battlebus2] 26/2/2015 17:04

doubt we will tank again ibug, maybe another tie up you never know :))

[ibug] 26/2/2015 16:59

Yep looking forward to the results...we might get to see this tank once more like it did last year....GLA

[battlebus2] 26/2/2015 16:35

Results in the Morning then, GLAH..

[battlebus2] 25/2/2015 14:38

Lets hope so, moving up, now 90p to buy..

[ibug] 25/2/2015 08:53

We should discover how much of the anticipated $24 million USD compensation package has been paid by Chiquita on Friday.

[battlebus2] 24/2/2015 16:02

Great thanks ibug, hate Fridays for releasing results s they tend to get lost over the weekend..

[ibug] 24/2/2015 15:59

24 February 2015 | 15:56pm
StockMarketWire.com - Fyffes will release its preliminary results for the year ended 31 December on 27 February.

At 3:56pm: [LON:FFY] Fyffes PLC share price was 0p at 86p


Story provided by StockMarketWire.com
- See more at:

[ibug] 24/2/2015 12:11

Here are the spot prices for Bananas over the past year:

Jan 2014 928.42 0.33 %
Feb 2014 946.13 1.91 %
Mar 2014 966.85 2.19 %
Apr 2014 945.50 -2.21 %
May 2014 916.00 -3.12 %
Jun 2014 926.07 1.10 %
Jul 2014 930.82 0.51 %
Aug 2014 961.59 3.31 %
Sep 2014 925.41 -3.76 %
Oct 2014 922.41 -0.32 %
Nov 2014 904.70 -1.92 %
Dec 2014 908.60 0.43 %
Jan 2015 911.60 0.33 %

It will be interesting to see how the company has performed against those market prices. The financial report has been promised for late February---perhaps this week.

[battlebus2] 21/2/2015 11:59

Well the events calender says "late February" so im expecting them next week also.

[ibug] 21/2/2015 11:44

The financial results may well be published this week.

[ibug] 03/2/2015 12:33

Most of the directors at Total produce originated from Fyffes and that is the relevance of this news.


Total Produce takes 50% stake in Gambles
Canadian fresh produce company is the fourth North American investment for Total Produce

Carl McCann, chairman of Total Produce, said that the transaction further broadens the fresh produce provider’s North American operations. (Photograph: Alan Betson/The Irish Times)


First published:
Tue, Feb 3, 2015, 07:49

Fresh food company Total Produce has made its fourth North American investment, acquiring a 50 per cent shareholding in the Gambles Group, a fresh produce company based in Toronto Canada.

Gambles, which was founded in 1989 and employs over 280 staff, offers a wide range of fresh, local and imported produce that is delivered daily throughout Ontario to the retail, wholesale & food-services sectors. In 2014 it reported sales of CAD$170m (€118m) .

Carl McCann, chairman of Total Produce said that the transaction “further broadens our North American operations”.

Jeff Hughes (president) and Rob Giles (vice president) together with Rick Ashford (vice president) and Richard Rose (vice president) will remain as shareholders of the business and will continue to be key members of the executive management team.

[coincall] 30/1/2015 14:00

Special divi 5.3p/share would be nice?

[ibug] 30/1/2015 12:58

The prelim financial results will be published in late February.

It will be really interesting to learn about the $24m USD compensation package from Chiquita.

[ibug] 26/1/2015 19:19

New CEO of bananas and pineapples named for Chiquita

01/23/2015 03:38:00 PM

Coral Beach

For additional details on Chiquita's new management, please see "Chiquita's moving costs could top $40 million; new board in place"

A former Dole Food Co. executive is now CEO for bananas and pineapples at Chiquita Brands International Inc.

Chiquita

The new Chiquita board appointed Andrew Biles, 62, to his new position, effective Jan. 22, according to a filing with the Securities and Exchange Commission. The board named Darcilo Santos, 46, as CFO for the entire Chiquita operation.

- See more at:

[ibug] 21/1/2015 14:24

An interesting behind the scenes development:

In the first two weeks of the new year, guru Mario Gabelli (Trades, Portfolio) has added to his stakes in three companies – Chemtura Corp (CHMT), Volcano Corp (VOLC) and Chiquita Brands International Inc (CQB). No other gurus we follow have invested in those companies since the third quarter of 2014.

Gabelli is the founder, chairman and CEO of Gabelli Asset Management Company Investors.



Perhaps the gurus will be interested in Fyffes?.

[battlebus2] 21/1/2015 11:05

Lol and lol again!!! You have to be a little crazy to make money at this game ....

[playful] 21/1/2015 10:44

Always thought you were bananas ;o)

[battlebus2] 21/1/2015 10:16

The stock is my favourite :))

[ibug] 21/1/2015 09:54

The stock is in recovery after the Chiquita merger deal was sidelined....the stock is in the process of warming up waiting for news about the compensation package.

[battlebus2] 20/1/2015 18:42

Another good day for Fyffes.

[ibug] 15/1/2015 15:41

While that transition takes shape over the next 18 months Fyffes have a very good opportunity to gain market share most especially in Europe as I suspect Cutral are not so interested with working outside the U.S.. We will have to wait and see how Chiquita develops.

But it seem more and more likely there will be a lot of jobs lost at Chiquita.

The economic development grant agreement was worth $20 million USD to Chiquita over a ten year employment plan so Cutrale will have to repay most of that money back to be able to move the business.

[ibug] 15/1/2015 15:38

Here is a public interest story which indicates how Chiquita will remodel it's business.

Chiquita moving HQ from Charlotte


01/14/2015 01:50:00 PM

Coral Beach

Chiquita Brands International Inc. is reportedly closing its headquarters in Charlotte, N.C., and will let its employees know the fate of their jobs in the next 90 days.

ChiquitaChiquita CEO Brian Kocher sent a letter to the company’s employees on Jan. 14. There is no mention of the move on the Chiquita website and neither Kocher’s letter nor media reports include details on where the headquarters would be located.

The news comes one week after two Brazilian companies — Cutrale Group and Safra Group — closed a $1.3 billion deal to buy the banana giant.

Chiquita officials did not immediately respond to requests for comment on Jan. 14, but did provide Kocher’s letter. The letter, in its entirity, states:
“Dear Associate,

“We now embark on Chiquita’s next chapter. We wish to inform you of changes at the company that will result from our transition towards a more simplified and streamlined business model appropriate for the competitive markets we serve, and from a publicly listed company to a private enterprise.

“As communicated last week, we plan to organize the core businesses around three separate and distinct business units: Chiquita bananas and pineapples, Fresh Express salads and snacks, and Chiquita Fruit Solutions — our banana puree and pineapple juice business. Additionally, as a private company there will be certain corporate services that are no longer necessary to support a publicly listed company.

“As a consequence we have made the decision to transition over the next twelve to eighteen months all operational departments and remaining corporate services to be closer to our customers and operations, and out of Charlotte. This will improve business efficiency and decision making to prepare the springboard for our growth as three focussed business units.

“Over the next 90 days, your managers will share with you more information about the implications of this transition. We admire and appreciate all that you have contributed to Chiquita and thank you for your support as we shape a bright future for this great company.”

Charlotte Mayor Dan Clodfelter posted a statement on the city’s website Jan. 14 thanking the company and reassuring residents.

“Chiquita’s leadership has assured us that the company will fulfill the obligations outlined in the economic development grant agreement,” the mayor said in his statement. “I also want to encourage local employers to consider the impacted employees and their families, as many of them seek other job opportunities in our community.”


- See more at:

[battlebus2] 10/1/2015 00:44

Thanks smicker, got a copy and it's a great read.
Fyffes is ripe for M&A ,nothing new those who hold on here don't already know just saying how the sector is sure to consolidate further and Fyffes may even go on the acquisition trail itself. The enterprise value placed on Chiquita was 12x while Fyffes only trades at 6.3x. Even if it doesn't Fyffes is more than fit to stand alone with cash to get a boost from the failed Chiquita bid. BUY.