Mission Produce acquires Calavo for $465M, enters prepared foods; Q2 loss driven by costs

Filed June 8, 2026 · Period ending April 30, 2026 · Compared to 10-Q Jun 5, 2025 · ~2 min read

Key Changes

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  Completed $465M acquisition of Calavo on May 28, 2026, entering prepared foods (guacamole, salsas) and expanding avocado supply across Mexico and California. Funded with $250M in new term loans, ~$197M in stock, and cash. Debt capacity more than doubled to $550M.

  MD&A: Calavo Acquisition verify on EDGAR →
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  Operating income swung from $6.9M profit to $7.0M loss in Q2 2026, driven by $6.4M in transaction advisory costs and lower avocado margins. Adjusted EBITDA (excluding deal costs) fell 63% to $7.1M as oversupply drove 36% price decline despite 15% volume growth.

  MD&A: Operating Results verify on EDGAR →
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  Board authorized new $100M stock buyback program on June 3, 2026, replacing prior $20M program with $11.2M remaining. Fivefold increase signals management confidence in valuation and commitment to capital returns.

  Controls: Stock Repurchase Program verify on EDGAR →