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Mission Produce has agreed to acquire Calavo Growers, combining two of the most prominent publicly traded avocado producers. Calavo stockholders will receive $27 a share as part of the deal, comprising $14.85 in cash and about 0.98 of a share of Mission’s stock for each Calavo share, the companies said Wednesday.
The acquisition gives the produce giant a path to enter the ready-made guacamole market and expand its portfolio to include tomatoes and papayas.
Depending on the timing, NASA could launch a fresh crew to the space station while four other astronauts are flying around the moon.
Workers process avocados at the Mission Produce packing facility in Oxnard. Two publicly traded Ventura County agribusinesses will be combining operations after Oxnard-based Mission Produce announced it is purchasing Santa Paula-based Calavo Growers in a cash-and-stock transaction worth $430 million.