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Chiquita Brands To Buy Irish Rival

RENEE MONTAGNE, HOST:

NPR's business news begins with a soon-to-be top banana.

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MONTAGNE: An American company long synonymous with bananas is merging with an Irish rival to create the world's biggest banana company. The new company will be called ChiquitaFyffes, and it's expected to have annual sales of $4.6 billion.

A Chiquita executive tell The Wall Street Journal that ChiquitaFyffes will be able to offer customers, quote, "a more diverse product mix and choice." The deal is also expected to save money at a time when the cost of producing fruit is on the rise. Transcript provided by NPR, Copyright NPR.