M&A · Industrials · Agricultural Services
Mission Produce, Inc. to acquire Calavo Growers Inc
Announced Jan 14, 2026 · Closed May 28, 2026
Deal value$430MEV $430M
Premium21.6%To unaffected price
EV / Adj. EBITDA15.2x0.7x EV / Revenue
ConsiderationCash and stock$27.00 per share
Transaction
- Acquirer
- Mission Produce, Inc. (AVO)
- Target
- Calavo Growers Inc (CVGW)
- Buyer type
- Strategic
- Offer price per share
- $27.00
- Enterprise value
- $430M
- Status
- Closed May 28, 2026
Deal protections
- Break fee (target pays)
- $12.9M · 3.0%
- Reverse fee (buyer pays)
- $15.0M · 3.5%
- Go-shop
- No-shop
- Financing
- Committed · BofA Securities
Advisors
- To the acquirer
- Evercore
- To the target
- Jefferies
- Evercore fee
- $6.5M
- Jefferies fee
- $12.5M
Sector context · Industrials
- Comparable deals
- 96 in the prior 24 months
- Premium
- 21.6% vs. 38.0% sector median
- EV / Adj. EBITDA
- 15.2x vs. 9.8x sector median
- Break fee
- 3.0% vs. 2.6% sector median
Timeline
- AnnouncedJan 14, 2026
- Proxy filedMar 20, 2026
- Definitive proxyMar 20, 2026
- Shareholder voteApr 28, 2026
- ClosedMay 28, 2026
Valuation · fairness opinions
Discounted cash flowEvercore$14.15$20.75
Discounted cash flowEvercore$26.35$33.45
Trading comparablesEvercore$16.75$19.25
Trading comparablesEvercore$20.25$23.70
Trading comparablesEvercore$33.15$38.40
Trading comparablesJefferies$17.80$24.55
Trading comparablesJefferies$20.10$28.50
Precedent transactionsJefferies$23.45$30.05
Discounted cash flowJefferies$33.65$41.80
Discounted cash flowJefferies$35.00$43.35
Offer $27.00
Implied value per Calavo Growers Inc share by analysis, from Evercore and Jefferies · DCF discount rate 9.5%–11.5%.