Calavo Growers, Inc. (CVGW)

Calavo Growers traces its roots to 1924, when California avocado growers formed a cooperative marketing organization that became known as Calavo, short for California Avocado Growers. Headquartered in Santa Paula, California, the cooperative marketed fruit for its grower members for decades. It converted to a corporation and listed its common stock on Nasdaq in 2002 under the symbol CVGW, which opened the company to outside investors and a broader strategic agenda.

Over time Calavo became one of the leading distributors of avocados in North America and a major supplier of prepared avocado products such as guacamole. It sourced fruit from California, Mexico, Peru and Colombia, and sold to retail grocery chains, foodservice operators, club stores, mass merchandisers and wholesalers. In its later years the company reported two segments, Grown and Prepared. The Grown segment handled the distribution of avocados, tomatoes and papayas, while the Prepared segment made value-added items including avocado products, salsa, fresh-cut fruit and vegetables, salads, sandwiches and ready-to-eat meal components through its Renaissance Food Group operations.

Calavo's business was exposed to fluctuations in fruit supply, prices, weather, labor costs and trade policy. Mexico is the dominant source of avocados for the U.S. market, so tariffs, border inspection actions and crop conditions could affect margins. The company also reshaped its portfolio, including by exiting a number of non-core activities, in an effort to focus on its core fresh and prepared avocado operations.

In January 2026, Calavo announced a definitive agreement to be acquired by Mission Produce, Inc., an Oxnard, California-based avocado producer, importer and distributor listed on Nasdaq under the symbol AVO. The transaction brought together two of the largest avocado marketers in the United States. Mission valued the deal at roughly $430 million and was expected to broaden its customer base and add Calavo's prepared foods capability.

The original announced price was $27 per Calavo share, payable in a mix of cash and Mission common stock. Because a portion of the consideration was paid in Mission shares, the value to Calavo holders changed with Mission's stock price, and at closing the consideration was valued at $26.05 per share, composed of $14.85 in cash and 0.9790 shares of Mission common stock for each Calavo share. Calavo stockholders approved the transaction before closing.

Mission Produce announced completion of the acquisition on May 28, 2026, and Calavo became a wholly owned subsidiary of Mission. Kathleen Holmgren, the former chair of Calavo's board, joined Mission's board effective at closing, and John Lindeman was named to lead Calavo during a transition period, reporting to Mission's chief executive. Nasdaq filed a Form 25 to remove Calavo's common stock from listing and registration, and CVGW shares ceased trading.