Chiquita Enters Produce Market in China
Chiquita Brands International Inc. enters into a joint venture with Haitong Food Group Co. Ltd. for the processing, sale and marketing of value-added fresh produce in China, marking the company's initial entry into an important emerging market.
"Introducing the Chiquita brand to the emerging Chinese value-added produce market is an important strategic step in becoming a global leader in branded, healthy, fresh foods," says Fernando Aguirre, chairman and chief executive officer, Chiquita Brands International Inc. "Our strategy allows us to capitalize on health and wellness trends globally, and we are excited to bring our healthy food portfolio to this new market. We are very pleased to partner with Haitong, a company known for its high quality products, and are confident that combining our strong brand and marketing capabilities with their local expertise will position us to successfully enter this promising market."
Under the agreement, Chiquita will provide limited capital investment and have majority ownership of the joint venture company, Zhejiang Chiquita-Haitong Food Company Limited, which will operate food processing operations in Cixi, China. The company will market and sell value-added produce, such as fresh packaged salads, fresh cut fruits and vegetables and fresh chilled beverages in China. The joint venture is also committed to meeting Chiquita's high social, environmental and food safety standards.
"Introducing the Chiquita brand to the emerging Chinese value-added produce market is an important strategic step in becoming a global leader in branded, healthy, fresh foods," says Fernando Aguirre, chairman and chief executive officer, Chiquita Brands International Inc. "Our strategy allows us to capitalize on health and wellness trends globally, and we are excited to bring our healthy food portfolio to this new market. We are very pleased to partner with Haitong, a company known for its high quality products, and are confident that combining our strong brand and marketing capabilities with their local expertise will position us to successfully enter this promising market."
Under the agreement, Chiquita will provide limited capital investment and have majority ownership of the joint venture company, Zhejiang Chiquita-Haitong Food Company Limited, which will operate food processing operations in Cixi, China. The company will market and sell value-added produce, such as fresh packaged salads, fresh cut fruits and vegetables and fresh chilled beverages in China. The joint venture is also committed to meeting Chiquita's high social, environmental and food safety standards.