Sao Paulo-based Cutrale and Safra Groups have completed the transactions necessary for the takeover of Charlotte-based produce multinational Chiquita Brands, and have announced a change in leadership.

In a release, Cutrale-Safra said Ed Lonergan would no longer serve as CEO and was replaced by former COO Brian Kocher as the new interim CEO. Executive vice president Rick Frier will also be exiting the company.

Cutrale-Safra thanked Lonergan and Frier for their leadership and wished them well in future endeavours.

"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.

The new owners highlighted Chiquita would continue its ongoing strategic objective of refocusing the business on its core brands and strengths, while maintaining excellence in its customer relationships.

"We look forward to working with Chiquita to build the premier and most sustainable fresh produce platform in the industry," the groups said.

"The expertise of the Cutrale Group, one of the world's most highly regarded agribusiness and juice companies, and the extensive global relationships of the Safra Group will be important strategic differentiators for Chiquita. We are confident this combination will benefit customers and consumers of the Chiquita and Fresh Express brands around the world.

"We will focus with Chiquita on strengthening its businesses and brands, including Chiquita bananas and Fresh Express salads and snacks, and enable further success in this very competitive environment through investments in the brands and operations."

The groups, who now take Chiquita into private ownership, emphasized their history of successful investment in the agribusiness sector and a commitment to providing customers with the highest quality products and best service levels.

Photo: Mike Mozart, via Flickr Creative Commons

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