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Fresh-cut segment is sold.
Byline: Tyra M. Vaughn
Jun. 29--Performance Food Group Co. yesterday announced it has completed the sale of its packaged-produce unit to Chiquita Brands International Inc., a leading grower of bananas and fresh-cut fruit.
The $855 million sale of Fresh Express was originally scheduled to be finished May 1, but it was delayed two months because of regulatory issues Chiquita was dealing with, Performance said.
Selling the unit will allow Performance to focus on its core food-distribution business and allow it to pay off a $282 million debt.
Robert C. Sledd, Performance Food's chairman and chief executive, said the company's purchase of Fresh …
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