Mission Produce completes acquisition of Calavo Growers
Two Ventura County agribusinesses have officially merged after Oxnard-based Mission Produce announced it has completed its acquisition of Calavo Growers on May 28.
Mission Produce announced it would be purchasing Santa Paula-based Calavo Growers in a cash-and-stock transaction worth $430 million on Jan. 14. Mission said in January that they expect the deal to add $25 million of annualized cost synergies within 18 months post-close, with meaningful upside potential.
John Lindeman, former president and CEO of Calavo, will continue to lead the Calavo business during a transition period and will report to Mission Produce CEO, John Pawlowski. The combined headquarters will be in Oxnard.
The addition of Calavo further strengthens Mission’s “vertically integrated global network, enhancing sourcing and packing capabilities, improving asset utilization across the network, broadening its reach across complementary fresh produce categories, and accelerating its entry into the high-margin, high-growth prepared foods segment,” the company said in a press release.
“Today marks a significant milestone for our Company and for our industry,” said Pawlowski. “The successful completion of this transaction reflects our commitment to building a stronger, more diversified company – one that is well positioned to meet the growing demand for fresh, healthy and convenient foods.”
