Mission Produce and Calavo Growers' merger authorized by Mexican antitrust authority

Mission Produce has obtained antitrust clearance from Mexico’s Federal Economic Competition Commission (COFECE, for its Spanish initials) to complete the acquisition of Calavo Growers, first announced back in January.  

Authorization from the Mexican agency was among the closing conditions in the merger agreement. The companies expect the transaction to close on May 28, 2026.

The Oxnard produce giant announced the acquisition of Calavo Growers for $430 million at the beginning of the year. The deal, the company said in a statement, is intended to create a scaled North American platform, enabling international expansion and accelerating diversification of the firm’s business model. 

Mission and Calavo’s merger conditions

Under the signed sales agreement, Calavo stockholders will receive $27 per share. Upon close, 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, Mission Produce CEO since April, will retain his title for the combined company. Meanwhile, former CEO Steve Barnard is set to assume the role of Executive Chairman in April and will hold the same role for the combined company, which will be headquartered in Oxnard, California.

*All images are referential. 

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