Mission Produce has completed its acquisition of Calavo Growers, expanding its packing and distribution footprint and adding guacamole and ready-to-eat offerings to its portfolio. Management expects at least $25 million in annualized cost synergies within 18 months, with benefits beginning in the fiscal fourth quarter and accelerating through fiscal 2027. The company also reported fiscal second-quarter adjusted EBITDA of $7.1 million, down from $19.1 million a year earlier, pressured by unusually high avocado supplies and an unfavorable fruit-size mix. Mission Produce expects second-half adjusted EBITDA of $84 million to $88 million, supported by recovering avocado margins, stronger contributions from Peru and blueberries, a full-quarter contribution from Calavo in the fiscal fourth quarter, and initial synergy benefits. The company anticipates fiscal 2026 capital expenditures of roughly $45 million and exportable Peruvian avocado production of 120 million to 130 million pounds, up from 105 million pounds in the prior season.
Mission Produce IncCompleted acquisition of Calavo Growers with expected synergies and improved second-half outlook.
Calavo Growers IncAcquired by Mission Produce, providing value to shareholders.
Dole PLC
Corteva Inc