Ventura County's biggest avocado company is buying its top rival
Packaged avocados destined for Trader Joes stores are readied for transport at Mission Produce in Oxnard. (Photo by Steve Osman/Los Angeles Times via Getty Images)
VENTURA COUNTY, Calif. - Mission Produce and Calavo Growers, the two dominant forces in the avocado industry, are joining forces in a landmark deal that will unite the neighboring Ventura County avocado giants.
What we know:
Under the terms of the definitive agreement, Oxnard-based Mission Produce will purchase Santa Paula-based Calavo Growers for an estimated $430 million in a cash-and-stock transaction.
Calavo stockholders are set to receive $27.00 per share, representing a 26% premium over the recent average trading price, according to officials.
Upon completion, Mission shareholders will own roughly 80.3% of the combined company, while Calavo shareholders will hold the remaining 19.7%.
The combined company will remain headquartered at Mission’s corporate offices in Oxnard.
John Pawlowski, Mission’s incoming CEO, is slated to lead the new unified organization, while Mission co-founder Steve Barnard will serve as executive chairman.
The backstory:
Calavo Growers was founded over 100 years ago as the "original avocado company" and has since grown into a global provider of avocados, tomatoes, and papayas.
Mission Produce, founded in 1983, has built a massive vertically integrated network specializing in ripening and global distribution.
The two companies, situated just 10 miles apart, have operated as top rivals for decades.
This merger seeks to end that rivalry by combining Mission’s distribution strength with Calavo’s established brand and its two packinghouses in Jalisco and Michoacán, Mexico.
Avocados are harvested at ACA Farms. (Robert Gauthier/Los Angeles Times via Getty Images)
Why you should care:
For consumers, this merger could lead to more consistent avocado availability year-round. By combining their grower networks in California, Mexico, Peru, and Colombia, the new entity aims to mitigate seasonal supply gaps.
Additionally, Mission is using this deal to enter the high-growth "prepared food" market. This means the company that likely supplies the fresh avocados to your local grocery store will now also be a major provider of ready-to-eat guacamole and salsas, catering to increasing consumer demand for convenience.
What they're saying:
The leadership of both companies expressed confidence that the scale of the combined business will benefit the industry.
"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, CEO of Mission.
B. John Lindeman, CEO of Calavo, called the deal a "compelling next chapter" that will allow the company to "unlock new growth and expand the impact of our trusted Calavo brand."
What's next:
The deal is currently in the regulatory review phase. Before the transaction can be finalized, it must receive the green light from government regulators and the formal approval of both Mission and Calavo shareholders.
If all closing conditions are met, the companies expect to finalize the merger by the end of August 2026.
The Source: This report is based on the merger agreement and joint corporate statements issued by Mission Produce and Calavo Growers, as well as financial disclosures filed with the SEC.