AVO News & Events

Mission Produce (AVO) and Calavo Growers (CVGW) announced, in connection with Mission Produce's pending acquisition of Calavo, that Mission Produce has obtained antitrust clearance from Mexico's Federal Economic Competition Commission. This clearance satisfies the acquisition's closing condition set forth in the previously announced merger agreement regarding the receipt of antitrust approval in Mexico. As such, subject to the continued satisfaction of all closing conditions, Mission Produce and Calavo currently expect that the transaction will close on May 28.

Reports Q1 revenue $278.6M, consensus $260.73M. Steve Barnard, CEO of Mission, stated, "We are off to a strong start in fiscal 2026, delivering 14% avocado volume growth and strong adjusted EBITDA results as industry pricing normalized from the elevated levels experienced over the past year. These results demonstrate our business model's resilience and our team's ability to execute consistently across market conditions. We're deepening customer relationships and expanding category penetration while focusing on the two levers that drive long-term value: volume growth and per-unit margin management. This approach delivered gross margin expansion in the quarter, reflecting ongoing optimization in our Marketing & Distribution segment and operational discipline across our platform."

John Pawlowski, president and COO and CEO-designate of Mission, stated, "We are also very excited about the progress we are making on our pending acquisition of Calavo Growers. This transaction represents a tremendous opportunity to expand our avocado platform, diversify our product portfolio, and enter the attractive prepared foods segment-all while unlocking at least $25 million in expected annual synergies. Integration planning is underway and we believe that the transaction is on track to close during the fiscal third quarter. Combined with the strong financial foundation we've built-including a healthy balance sheet and enhanced free cash flow-we believe Mission is exceptionally well positioned for the next chapter of growth and value creation."