Chiquita Brands International (NYSE: CQB) has reported a 44% year-on-year jump in adjusted EBITDA, reaching US$26 million for the period.

The result comes despite lower demand for foodservice vegetables and healthy snacks, and constrained processed fruit supply. On the other hand, net banana sales rose 4% to US$477 million, although "atypical" weather led to higher sourcing and transport costs.

This stronger banana result was supported by higher prices and volumes in North America, as well as a shift in volumes from the Middle Eastern and Mediterranean markets to core European markets where prices were also higher overall.

"Relative to 2013, the second half of the year will benefit from reduced levels of excess supply of fruit, as well as favorable comparisons in the salad business as a result of third quarter-deployed salads pricing actions and improving performance of our Midwest salad facility, which incurred significant expenses last year," CEO Ed Lonergan said in a release.

"I am particularly proud of our results in light of the significant work and potential distractions that existed for our employees in the third quarter surrounding the evaluation of our strategic alternatives.

"With the announced sale of Chiquita to the Cutrale and Safra groups, we are working to ensure an efficient closing and successful integration by the end of the year or early 2015."

The company added the transaction was not subject to any financing condition, but did depend on the satisfaction of customary closing conditions and regulatory approvals.

Once the transaction is complete, Chiquita will become a wholly owned subsidiary of Brazil's Cutrale Group and Safra Group, and remain incorporated in New Jersey.

The company noted it spent US$8 million in transaction costs relating to the previously proposed combination with Fyffes and the Cutrale-Safra offer, which partly contributed to a US$18 million GAAP net loss. The company also lost US$2 million in net sales in its bananas segment due to issues related to hedging.

In the nine months until the end of the quarter, the company spent US$17 million on its merger and acquisition-related activites.

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