Mission Produce Acquires Calavo Growers in $430M Deal, Combining Two Largest Avocado Companies in North America

Mission Produce is acquiring rival Calavo Growers in a deal worth $430 million, combining two of North America's largest avocado companies. The acquisition positions Mission to expand in the prepared foods segment and grow internationally, diversifying its produce portfolio to include tomatoes and papayas. The deal is expected to close by the end of August and generate annual cost synergies of $25 million.