Santa Paula-based avocado and fresh produce grower Calavo Growers completed the $19.4 million purchase of a 128,000-square-foot production facility in Riverside, the company announced on Nov. 3.
The acquisition, which was secured in a 1031 exchange, will help Calavo increase its national footprint for its Renaissance Food Group LLC business segment.
The facility at 1730 Eastridge Ave. sits on about 11 acres and was previously operated by affiliates of the former Fresh & Easy Neighborhood Markets. The “near turnkey” building’s location in Southern California’s burgeoning Inland Empire region is highly sought after for its prime interstate and rail access, said Calavo Chairman and CEO Lee Cole.
“This best-in-class facility aligns with and extends our company’s strategic growth initiatives to build a leading market position in the refrigerated fresh packaged foods category,” Cole said in a news release. “The new facility enables us to satisfy demand from several key accounts in Southern California, while providing the platform for deeper market penetration across the southwest, including southern Nevada, Arizona and Utah.”
The acquisition follows the recent addition of a 209,000-square-foot production and distribution center near Jacksonville, Fla. and the new renovation and expansion of an 89,000-square-foot production facility in Houston, Texas.
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