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0 0 0 -0.0420969023034154 -0.0548054011119936 -0.0619539316918189 -0.0587768069896744 -0.0643367752184272
Stock impact report

Mission Produce plucks avocado rival Calavo Growers [Yahoo! Finance]

Mission Produce, Inc. (AVO) 
Company Research Source: Yahoo! Finance
The transaction, which values Calavo at around $430m, comes seven months after the California-based business said it had received a takeover approach from an unnamed suitor. Mission Produce, also headquartered in California, said it expects its shareholders will own just over 80% of the combined business when the deal is finalised. Investors in Calavo will hold the rest. “This acquisition marks an important milestone for Mission and for our industry,” Mission Produce co-founder and CEO Steve Barnard said. “When the transaction closes, we believe we will have enhanced scale and a more diversified business model and product portfolio, so that we can deliver even greater value to our customers, growers, employees, and shareholders.” Set up in 1983, Mission Produce is best known for its avocados but it also supplies mangoes and grows blueberries. Calavo, which is over 100 years old, also has its origins in avocados, which it now sources from California, Mexico, Peru, and Colomb Show less Read more
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