Via www.valuediscipline.blogspot.com:
CQB is a global diversified brand with over $4 billion in sales in over 70 countries. Some 44% of sales are bananas, 31% are “Fresh Select� fresh fruit and vegetables other than bananas, and 24% are “Fresh Cut,� packaged salads. The Fresh Express acquisition, completed in June of 2005, diversifies the company’s business and accelerates revenue growth in higher margin value−added products. Importantly, it balances the mix of sales between Europe and North America, which should reduce the company’s susceptibility to risks unique to Europe, such as the recent changes to the European Union (“EU�) banana import regime. The company operates a joint venture through which Chiquita operates in the Far East market selling approximately 10% of bananas imported into Japan...
...The market has generally been kind to the food processing industry this year, as sector rotation into non-cyclicals has predominated "thinking" about next year's prospects. In my view, many of these names are priced for perfection and I believe could disappoint. Not so with CQB in my view.
$15.45 (01/29/07)
