Oct 8, 2024Calavo divests fresh cut fruit, veg business
Calavo has sold its fresh-cut business.
Calavo Growers announced it has completed the sale of its fresh-cut business to F&S Fresh Foods for $83 million.
The transaction, finalized on Aug. 15, includes related real estate. Calavo said the sale will allow the company to focus on its core businesses of avocados and guacamole, according to a news release.
“We are pleased to announce that the sale of our Fresh Cut business has been finalized,” Lee Cole, Calavo’s president and CEO, said in the release.
In the release, Cole noted that the business will be in “capable hands” with F&S Fresh Foods, a long-time co-packing partner of Calavo’s.
Calavo plans to report its third-quarter earnings on Sept. 9.
Calavo is a major player in the avocado industry. The company, founded in 1924, is headquartered in Santa Paula, California, and markets various produce, including avocados, tomatoes, and papayas, globally.
F&S Fresh Foods is located in Vineland, New Jersey.
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