Key Takeaways
- Mission Produce has entered into a definitive agreement to acquire Calavo Growers in a cash-and-stock deal valuing Calavo at approximately $430 million.
- The transaction strengthens Mission’s vertically integrated avocado platform and expands its footprint in prepared foods and complementary produce categories.
- Calavo shareholders will receive $27.00 per share, representing a premium of about 26% over the recent average trading price.
- The combined company is expected to achieve $25 million in annualized cost synergies within 18 months of closing.
- The transaction is expected to close by the end of August 2026, subject to regulatory and shareholder approvals.
Mission Produce Announces Agreement to Acquire Calavo Growers
Mission Produce, Inc. (NASDAQ: AVO), a global supplier of fresh avocados, has announced a definitive agreement to acquire Calavo Growers, Inc. (NASDAQ: CVGW), a long-standing produce and prepared foods company, in a cash-and-stock transaction. The deal is intended to create a more diversified and scaled fresh produce platform in North America with expanded global reach.
“This acquisition marks an important milestone for Mission and for our industry,” said Steve Barnard, Co-Founder and Chief Executive Officer of Mission. “By bolstering Mission’s vertically integrated platform and trusted global distribution network with Calavo’s complementary sourcing, prepared foods capabilities, and deep customer relationships, we intend to build a stronger, more diversified company positioned for sustainable growth.”
Strategic Fit Across Fresh Produce and Prepared Foods
Founded more than 100 years ago, Calavo has developed a global sourcing network for avocados, tomatoes, and papayas, alongside a growing portfolio of value-added products such as guacamole and salsas. Mission, meanwhile, operates a fully integrated avocado business that includes growing, packing, ripening, logistics, and regional distribution.
