Local Avocado Giant in Ventura County Acquires Leading Competitor
Mission Produce to Acquire Calavo Growers in Major Avocado Merger
VENTURA COUNTY, Calif. — In a landmark deal, Mission Produce and Calavo Growers, two leading companies in the avocado industry, are set to combine forces. The transaction, valued at $430 million, will merge the two largest avocado distributors in Ventura County into a single global enterprise.
Under the terms of the agreement, Oxnard-based Mission Produce will acquire Santa Paula-based Calavo Growers in a cash-and-stock transaction. Calavo shareholders will receive $27.00 per share, representing a 26% premium over the company’s recent average trading price. Upon completion, Mission shareholders will own approximately 80.3% of the new entity, while Calavo shareholders will hold the remaining 19.7%. The merged company will continue to operate from Mission’s corporate offices in Oxnard.
John Pawlowski, currently the CEO of Mission, will lead the newly formed organization. Mission co-founder Steve Barnard will serve as executive chairman.
Founded over a century ago, Calavo Growers has established itself as a global provider of avocados, tomatoes, and papayas. Mission Produce, established in 1983, has built a significant vertically integrated network focused on ripening and global distribution. The proximity of the two companies, located just ten miles apart, has positioned them as longstanding rivals in the avocado market. This merger aims to leverage Mission’s distribution strengths alongside Calavo’s established brand and packing operations in Jalisco and Michoacán, Mexico.
The implications of this merger extend beyond corporate strategy. For consumers, it promises more consistent avocado availability year-round by integrating their grower networks across California, Mexico, Peru, and Colombia. Additionally, Mission is set to enter the rapidly growing "prepared foods" market, expanding its offerings to include ready-to-eat guacamole and salsas, catering to the rising consumer demand for convenience.
Executives from both companies expressed optimism regarding the merger’s potential. "By bolstering Mission’s vertically integrated platform and trusted global distribution network with Calavo’s complementary sourcing, prepared foods capabilities, and deep customer relationships, we intend to build a stronger, more diversified company," said Steve Barnard. Calavo CEO B. John Lindeman referred to the deal as a "compelling next chapter" that will unlock new growth opportunities and enhance the Calavo brand’s impact.
Currently, the acquisition is undergoing regulatory review, requiring approval from both government authorities and shareholders of both companies. If all conditions are met, the merger is expected to be finalized by the end of August 2026.
