Mission Produce shares down after earnings release
Mission Produce’s stock tumbled 10% after the markets closed Dec. 22, after the Oxnard-based avocado distributor released its financial results for the fourth quarter of 2021 and missed analysts’ expectations. Mission Produce generated revenue of $237 million in the fourth quarter of 2021, a 15% increase from the same period a year ago. But, according Read More →
Calavo hires new CEO
Calavo Growers, a Santa Paula-based distributor of avocados and other produce, has hired a new CEO, after a period of instability that saw three permanent or interim leaders hold the job since early 2020. The new CEO, effective Feb. 1, is Brian Kocher, Calavo said in a Dec. 22 news release. He will take over Read More →
Calavo reports net loss, but revenue growth
Santa Paula-based Calavo Growers saw revenue increase year-over-year in the fourth quarter of 2021, and despite a net loss for the quarter, the company beat analysts’ expectations. Calavo, an avocado distributor, delivered revenue worth $273.4 million for the quarter ended Oct. 31, a 17% increase from the same quarter a year ago. The company did Read More →
Glass House buys edibles brand for $26M
Glass House Brands, a cannabis grower and retailer with its chief operations in Santa Barbara and Ventura counties, is buying one of California’s leading brands of edible cannabis in a deal worth $25.6 million in stock and debt-financed cash. Plus Products was the No. 4 brand of edibles ranked by sales in the third quarter Read More →
Region’s IPOs raised $3.2B in 2021, a record haul
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Glass House secures loan of up to $100M to retrofit Camarillo greenhouses for cannabis
A few months after purchasing the Houweling’s Tomatoes property in Camarillo, cannabis grower Glass House Group has secured the funding necessary to upgrade the greenhouse facility. Glass House announced Dec. 13 it has acquired a senior secured term loan agreement with a U.S.-based private credit investment fund for up to $100 million, with an initial Read More →
Final member of Inogen’s founding team to leave company
Ali Bauerlein, one of Inogen’s co-founders, has stepped down from her post as the company’s CFO, effective immediately on Dec. 13. According to a company news release, Mike Sergesketter has been appointed interim CFO while Inogen look to fill the position. Bauerlein will stay at Inogen in a transitional finance role through the first quarter Read More →
