Mission Produce Acquires Calavo Growers in $430 Million Deal

Mission Produce has acquired Calavo Growers in a $430 million deal. The acquisition aims to enhance Mission's avocado and fresh produce operations in North America and support international growth. Mission plans to integrate Calavo's categories like tomatoes and papayas into its avocado platform and anticipates $25 million in annual cost synergies within 18 months of closing. The deal introduces risks related to integration and execution, but could stabilize earnings and cash flow through the avocado cycle.