CALAVO GROWERS Business Summary

Calavo Growers Inc. (CVGW) operates as a global leader in the sourcing, packaging, and distribution of fresh produce and value-added avocado products. The company generates revenue through transaction-based sales to retail grocers, foodservice operators, and wholesalers across two primary business segments: Fresh and Prepared. The Fresh segment focuses on the distribution of avocados, tomatoes, and papayas sourced from California, Mexico, and South America, while the Prepared segment produces and markets processed guacamole and avocado pulps. Following the 2024 divestiture of its Fresh Cut business, Calavo has streamlined its operations to focus on its core avocado supply chain. In January 2026, the company entered into a definitive merger agreement to be acquired by Mission Produce, Inc. for approximately $430 million, a move intended to consolidate the North American avocado market. Calavo’s primary direct competitors include Mission Produce (pending acquisition), Westfalia Fruit, and West Pak Avocado, where it maintains a top-tier market position as a pioneer in avocado ripening and distribution infrastructure. Leadership is currently spearheaded by President and CEO John Lindeman, who assumed the role in December 2025 following the retirement of long-time executive Lee Cole. Lindeman brings significant industry pedigree, having previously served as Calavo’s CFO from 2015 to 2020 and most recently as CEO of Hydrofarm Holdings Group. He is supported by CFO James Snyder, a veteran of the company who previously served as Corporate Controller and Chief Accounting Officer. The board is chaired by Kathleen Holmgren, who was elected in late 2025 to oversee the company’s strategic transition and pending merger. While Calavo originated in 1924 as a grower cooperative, its modern corporate trajectory was largely shaped by Lee Cole, who served as CEO for over two decades. The company is currently navigating its final stages as a standalone public entity, with the Mission Produce transaction expected to close by August 2026.