ALC Announces Transaction with Chiquita Corporation

May 15, 2015

ATEL Leasing Corporation (“ATEL”) is proud to announce the completion of a $17.5MM equipment lease transaction with Chiquita. The contract calls for ATEL to lease to Chiquita refrigerated containers for cold storage transportation of their products.

The 40 foot refrigerated MAERSK containers are equipped with a ventilation system that is specifically required for banana transportation. The insulated containers are used in ground and sea transportation and will keep produce refrigerated for up to 50 days.

“ATEL welcomes and is pleased to be leasing with Chiquita Brands.” said ATEL Capital Group President and CEO, Dean Cash. “An iconic brand and a household name, Chiquita aligns with ATEL’s directive to offer financing solutions that fuel the growth of the American economy.”

Chiquita Brands, LLC, is a leading international marketer and distributor of bananas, salad blends and other healthy snacking products. The company markets its healthy, fresh products under the Chiquita and Fresh Express premium brands and other related trademarks. In the U.S. Chiquita has the biggest market share of the banana market with 125 million cases sold globally, followed by Del Monte (117 million) and Dole (110 million).