Calavo Growers, Inc. Announces Receipt of Unsolicited Proposal

Rhea-AI Summary

Calavo Growers (CVGW), a global leader in fresh avocado sourcing and distribution, has received an unsolicited, non-binding acquisition proposal valued at $32.00 per share. The proposed deal structure includes a combination of stock from the acquiring party and cash. The company's Board of Directors is currently evaluating the proposal with legal and financial advisors. The proposal remains subject to several conditions, including due diligence and financing arrangements. Calavo, which specializes in avocados, tomatoes, papayas, and processed avocado products like guacamole, has stated they will not provide further updates unless warranted.

Positive

• Potential acquisition offer represents a strategic interest in the company
• Proposed price of $32.00 per share provides a potential premium for shareholders
• Board is actively reviewing the proposal with professional advisors

Negative

• Proposal is non-binding and subject to multiple conditions including due diligence and financing
• Mixed consideration of stock and cash creates uncertainty about the final value
• No guarantee the proposal will lead to a completed transaction

SANTA PAULA, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW) (the “Company” or “Calavo”), a global leader in sourcing, packing and distribution of fresh avocados, tomatoes, papayas and processing of guacamole and other avocado products, today announced that it has received a non-binding, indicative proposal to acquire all of the outstanding shares of the Company for consideration nominally valued at $32.00 per share of the Company’s common stock, consisting of a combination of stock of the proposing party and cash. Among other conditions, the proposal is subject to due diligence and financing. The Company’s Board of Directors is reviewing this non-binding proposal in consultation with its legal and financial advisors. This non-binding proposal may or may not lead to a transaction, and the Company does not intend to comment or update further unless warranted.

About Calavo Growers, Inc.

Calavo Growers, Inc. (Nasdaq: CVGW) is a global leader in the processing and distribution of avocados, tomatoes, papayas and guacamole. Calavo products are sold under the trusted Calavo brand name, proprietary sub-brands, private label and store brands. Founded in 1924, Calavo has a rich culture of innovation, sustainable practices and market growth. The Company serves retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers worldwide. Calavo is headquartered in Santa Paula, California, with facilities throughout the U.S. and Mexico. Learn more about The Family of Fresh™ at calavo.com.

Investor Contact

Jeremy Apple

Senior Vice President

Financial Profiles, Inc.

calavo@finprofiles.com
310-622-8233

FAQ

What is the proposed acquisition price for Calavo Growers (CVGW)?

The proposed acquisition price is $32.00 per share, consisting of a combination of stock and cash.

Who made the acquisition offer for Calavo Growers?

The identity of the proposing party was not disclosed in the announcement.

Is the Calavo Growers acquisition proposal binding?

No, it is a non-binding, indicative proposal that is subject to due diligence and financing conditions.

What products does Calavo Growers (CVGW) distribute?

Calavo Growers sources, packs and distributes fresh avocados, tomatoes, papayas and processes guacamole and other avocado products.

What are the conditions for the Calavo Growers acquisition proposal?

The proposal is subject to multiple conditions, including due diligence and financing arrangements.