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Fyffes and Chiquita to create biggest banana firm

10 March 2014 Last updated at 23:50 GMT

Irish fruit firm Fyffes and US rival Chiquita are to merge to create the world's largest banana company, worth about $1bn (£597m).

The new firm, named ChiquitaFyffes, is expected to sell about 160 million boxes of bananas annually, more than any rival.

"This is a milestone transaction for Chiquita and Fyffes that brings together the best of both companies," said Chiquita boss Ed Lonergan.

Andrew Walker reports.