Mission Produce, Inc. (AVO) shares traded at $12.12, down 4.57% or $0.58 lower, after the company revealed it has entered a definitive agreement to acquire Calavo Growers in a strategic move to expand its North American avocado business and broaden its fresh produce offerings.
Under the agreement, Mission will acquire Calavo for approximately $430 million in cash and stock, a deal expected to close by August 2026, subject to customary regulatory approvals and shareholder consent. The transaction is designed to strengthen Mission's vertical integration in avocados while diversifying into additional categories such as tomatoes, papayas, and prepared foods, including guacamole.
On the announcement day, AVO opened near the prior close, moved to intraday lows as markets reacted to the acquisition news, and finished below key near-term levels. The stock trades on the NasdaqGS.
Trading volume was elevated above recent averages, reflecting increased investor attention following the acquisition disclosure.
AVO's 52-week range is approximately $10.85 to $19.50, highlighting volatility tied to strategic developments in the produce sector.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.