Calavo Growers, Inc. (CVGW)

Mission Produce announced an agreement to acquire Calavo Growers, Inc. Calavo reported decreased net sales for Q4 2025 and Q1 2026 due to lower avocado and tomato volumes and pricing, though the Prepared segment showed increased sales and gross profit. Shareholder alerts and lawsuits investigated the sale to Mission Produce, prompting Calavo to supplement the joint proxy statement/prospectus. Calavo declared quarterly cash dividends and changed the record date for the April 2026 dividend. Shareholders approved the merger agreement with Mission Produce, pending regulatory approvals in Mexico.

Sales of Calavo Growers' Fresh Products segment, including avocados, tomatoes, and papayas, are subject to seasonal fluctuations, which is a significant factor as this segment typically accounts for a majority of its revenue.

Calavo Growers, Inc. markets and distributes fresh avocados, tomatoes, and papayas, along with processed avocado products like guacamole and salsas, sold under the Calavo brand and private labels to various customers worldwide.

Calavo Growers, Inc. is headquartered in Santa Paula, California, with avocado production in California, South America, and Central America, and sourcing from Mexico and Peru. The company operates processing plants and packing facilities across the U.S. and Mexico, distributing products domestically and internationally to markets including Canada, Europe, and Asia.

Calavo Growers is recognized for its trusted brand and culture of innovation and sustainability. A temporary FDA detention hold on avocado imports from Mexico in Q3 2025, due to trace amounts of an unapproved fungicide, resulted in $4.2 million in costs. The company resolved the issue and filed an insurance claim, with no lasting negative impact on its overall brand reputation.

Calavo Growers, Inc. stock is owned by institutional investors (59.40%), insiders (6.75%), and public companies and individual investors (33.86%). Major institutional shareholders include BlackRock, Inc. and Vanguard Group Inc. J. Link Leavens is the largest individual shareholder, owning 11.53% of the company's shares.