Mission Produce acquires Calavo Growers for $430 million, expanding North American avocado business
Global grower and distributor Mission Produce is acquiring leading fresh produce provider Calavo Growers for $430 million.
The addition of Calavo is expected to create a scaled North American avocado and fresh produce platform, allowing the company to expand internationally and accelerate its business model diversification by growing its presence in the prepared foods segment.
In a statement released by the company, co‑founder and Chief Executive Officer Steve Barnard labeled the acquisition as a milestone for his firm and the industry at large.
“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.
Under the terms of the sales agreement signed by the companies, Calavo stockholders will receive $27 per share. Upon close, expected by August 2026, Mission shareholders will own approximately 80.3 percent of the combined company, while Calavo shareholders will own approximately 19.7 percent.
The company stated that John Pawlowski, elected as CEO in December 2025 and set to assume the role in April 2026, will retain his title for the combined company. Meanwhile, Steve Barnard, set to step down as CEO and assume as Mission's Executive Chairman in April, will hold the same position for the combined company, which will be headquartered in Oxnard, California.
The Calavo acquisition: A strategic step for Mission
Founded as the original avocado company in North America over 100 years ago, Calavo has evolved into a global purveyor of quality produce. Today, Calavo’s offerings include fresh avocados sourced from California, Mexico, Peru, and Colombia; tomatoes; Hawaiian papayas; and a variety of ready-to-eat products such as guacamole and salsas. Its products are sold under the Calavo brand name and proprietary sub-brands, as well as private-label and store-brands.
“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," said B. John Lindeman, President and Chief Executive Officer of Calavo.
The executive said Mission shares his company's values and commitment to quality and consistency for customers and growers alike.
"By joining a larger global platform, we will be better positioned to invest, innovate, and serve the market at scale,” he added.
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