Calavo Growers to be Acquired by Mission Produce in a $430 Million Cash and Stock Deal

Mission Produce, Inc. (AVO) entered a merger agreement on January 14, 2026, to acquire Calavo Growers, Inc. (CVGW) in a cash and stock deal valued at $430 million.

Deal Structure:

Calavo stockholders will receive $27 per share, comprised of $14.85 in cash and 0.9790 shares of Mission for each share of Calavo. The purchase price represents a 19.57% premium from the stock’s last close.

Mission shareholders are expected to own about 80.3% of the combined company, with Calavo shareholders owning about 19.7%.

Company Profile:

Calavo Growers is a fresh food company that markets, processes, and distributes avocados, prepared avocado products, and other fresh and fresh-cut produce, including tomatoes and papayas. Founded in 1924, the company serves retail, foodservice, and wholesale customers and is headquartered in Santa Paula, California.

Mission Produce is a fresh produce company that sources, grows, packs, and distributes avocados and mangos, with additional blueberry operations, serving retail, wholesale, and foodservice customers. Founded in 1983, the company is vertically integrated and headquartered in Oxnard, California.

Deal Details and Timeline:

In June last year, Calavo received a non-binding proposal to acquire all outstanding shares of the company’s common stock for $32 per share. The stock was trading at $23.58 when the company was offered the cash and stock proposal.

Bringing Calavo into the Mission network is expected to expand Mission’s position in Mexico and California. After closing, Calavo’s two packinghouses in Michoacán and Jalisco will increase Mission’s footprint in Mexico to four facilities.

After the deal closes, Mission will expand its avocado, mango, and blueberry business to include other fresh produce sold by Calavo, such as tomatoes and papayas.

The deal is expected to close by the end of August 2026.

John Pawlowski is expected to serve as CEO of the combined company. Steve Barnard is expected to serve as Executive Chairman of the combined company.

The combined company’s board is expected to have 10 directors. Under the agreement, one additional director, chosen jointly by Mission and Calavo, will be appointed to Mission’s board.

The combined company will be headquartered at Mission’s corporate offices in Oxnard, California.

Calavo Growers was advised by Jefferies on financial matters and by Cozen O’Connor P.C. on legal matters. Mission Produce was advised by Evercore as financial advisor and by Latham & Watkins as legal counsel.

Mission Produce is paying 15.54 times the EBITDA of Calavo Growers.

Deal Metrics:

For a more in-depth analysis of this M&A deal, please refer to the Deal Metrics page here:

Detailed Metrics for the Acquisition of Calavo Growers, Inc. (CVGW) by Mission Produce, Inc. (AVO)

The Deal Metrics page for each merger or acquisition includes:

• A comprehensive spread history chart tracking the merger from its announcement through to completion or failure.
• Every development as the merger navigates through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News updates and SEC filings.
• A history of deal updates.
• And much more.

Disclaimer: While every care has been taken in the preparation of this article, we recommend that readers conduct their own due diligence before buying or selling any securities mentioned. The accuracy or completeness of the data or content provided here is not guaranteed.

Editor’s Note: Baranjot Kaur contributed to this article