Sergio Medina carries boxes in the Chiquita banana packing plant located on the Bueso plantation in La Lima, Honduras.
Esteban Felix | AP Photo
Brazilian juice maker Grupo Cutrale and investment firm Safra Group agreed on Monday to acquire U.S.-based banana producer Chiquita Brands International Inc in a deal valued at $1.3 billion.
Cutrale-Safra, which had offered to pay $14.50 per share of Chiquita in cash, said in a statement that the transaction is not subject to any financing conditions. Once the transaction is closed, Chiquita will become a wholly owned subsidiary of Cutrale-Safra, the statement added.
The agreement was unanimously approved by Chiquita's board, the statement said.