Mission Produce files for IPO - FreshFruitPortal.com

Mission Produce files for IPO

California headquartered avocado company Mission Produce has filed for an initial public offering with plans to list on Nasdaq, under the ticker "AVO."

The number of shares to be offered and the price range for the proposed offering have not yet been determined.

The company said on Friday morning that it had filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed IPO of its common stock. 

BofA Securities, J.P. Morgan and Citigroup are acting as bookrunning managers for the proposed offering. Roth Capital Partners, Stephens Inc. and D.A. Davidson & Co.  are acting as co-managers for the proposed offering.

"We are a world leader in sourcing, producing and distributing fresh avocados, serving retail, wholesale and foodservice customers in over 25 countries," says the company's prospectus.

"We source, produce, pack and distribute avocados to our customers and provide value-added services including ripening, bagging, custom packing and logistical management."

The company had a net loss of $13.4m in the six months ended April 30, after income of $23.2 million in the year-earlier period, Market Watch reported. Sales rose to $419 million from $368 million, according to the prospectus.