Mission Produce acquires Calavo Growers for US$430M, expanding North American avocado business

USA – Global grower and distributor Mission Produce is acquiring fresh produce leader Calavo Growers for US$430 million.

The move is set to create a larger North American avocado platform while allowing Mission to expand internationally and grow its presence in the prepared foods segment.

In a statement, Mission co‑founder and CEO Steve Barnard described the acquisition as a major milestone for the company. “By bolstering our vertically integrated platform and trusted global distribution network with Calavo’s complementary sourcing, prepared foods capabilities, and deep customer relationships, we intend to build a stronger, more diversified company positioned for sustainable growth,” he said.

The sales agreement states that Calavo stockholders will receive $27 (US$27) per share. Once the deal closes, expected by August 2026, Mission shareholders will own roughly 80.3 percent of the combined company, while Calavo shareholders will hold around 19.7 percent.

John Pawlowski, named CEO of Mission in December 2025 and set to assume the position in April 2026, will retain his title for the combined entity. Steve Barnard will step down as CEO to take on the role of Executive Chairman for the merged company, headquartered in Oxnard, California.

Calavo’s legacy and capabilities

Founded over 100 years ago, Calavo started as the original avocado company in North America and has grown into a global provider of high-quality produce. Its portfolio includes avocados from California, Mexico, Peru, and Colombia, along with tomatoes, Hawaiian papayas, and ready-to-eat products such as guacamole and salsas.

The company sells these items under the Calavo brand, proprietary sub-brands, and private-label or store brands.

B. John Lindeman, Calavo’s President and CEO, said the merger will allow the combined business to scale further. “We believe combining with Mission represents a compelling next chapter that will enable our combined business to unlock new growth and expand the impact of our trusted Calavo brand, while also providing our shareholders with compelling value and the opportunity to participate as a shareholder of a global leader in a growing sector,” he said.

He added, “By joining a larger global platform, we will be better positioned to invest, innovate, and serve the market at scale.”

Industry observers note that the merger comes at a time when North American avocado demand continues to rise, and prepared foods remain a growing segment.

The acquisition positions Mission Produce to offer a wider range of products, strengthen its supply chain, and increase investment in innovation across fresh and prepared offerings. Analysts see the deal as a strategic step that could redefine competitive dynamics in the avocado and fresh produce market.

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