Core Insights - Calavo Growers has appointed B. John Lindeman as the new CEO, succeeding Lee Cole, who will retire on December 8 [1] - Lindeman previously served as CEO of Hydrofarm Holdings Group and has extensive experience in the industry, including a prior role as CFO at Calavo [3][4] - The company is currently evaluating strategic alternatives following takeover interest received in June [5][6] Company Performance - For the fiscal third quarter ended July 31, 2025, Calavo reported net sales of $178.8 million, a decrease of 0.4% year-on-year [6] - Fresh segment sales were $155.9 million, reflecting a 5% decline, while prepared segment sales increased by 40% to $22.9 million [6] - Operating income fell by 7.5% to $8.6 million, with net income reported at $4.7 million, compared to a loss of $762,000 in the previous year [7] - For the nine months ended July 31, net sales totaled $523.7 million, an increase of 6.5% compared to the prior-year period [7] - Fresh segment sales rose by 6% to $470.3 million, and prepared segment sales increased by 10% to $53.5 million [7]

Core Viewpoint - Calavo Growers, Inc. has received a non-binding proposal to acquire all outstanding shares at a nominal value of $32.00 per share, which includes a mix of stock and cash, pending due diligence and financing [1]. Company Overview - Calavo Growers, Inc. is a global leader in sourcing, packing, and distributing fresh avocados, tomatoes, papayas, and processing guacamole and other avocado products [2]. - The company was founded in 1924 and has a strong culture of innovation and sustainable practices, serving various markets including retail grocery, foodservice, and wholesalers worldwide [2]. - Calavo is headquartered in Santa Paula, California, with facilities across the U.S. and Mexico [2].

Core Viewpoint - Calavo Growers, Inc. is set to provide a general business update following its 2025 annual shareholder meeting, highlighting its leadership in the avocado industry and value-added fresh food sector [1]. Group 1: Annual Meeting Details - The Annual Meeting is scheduled for April 23, 2025, at 1:00 p.m. Pacific Time, with eligible shareholders able to participate and vote [2]. - Shareholders of record as of February 24, 2025, will have the right to submit questions and vote during the meeting [2]. - Non-shareholders can attend as guests but will not have voting rights or the ability to ask questions [3]. Group 2: Company Overview - Calavo Growers, Inc. is a global leader in processing and distributing avocados, tomatoes, papayas, and guacamole, operating a vertically integrated business model [4]. - Founded in 1924, the company serves various sectors including retail grocery, foodservice, club stores, and food distributors worldwide [4]. - The company is headquartered in Santa Paula, California, with operations throughout the U.S. and Mexico [4].

Core Viewpoint - Calavo Growers, Inc. has authorized a share repurchase program of up to $25 million to enhance shareholder value, reflecting confidence in its long-term strategy and financial position [1][2]. Group 1: Share Repurchase Program - The share repurchase program allows the company to buy back up to $25 million of its common stock through various methods, including open-market transactions and privately negotiated transactions [2]. - The program is effective until March 18, 2027, unless extended or terminated earlier by the Board of Directors [2]. - The timing, volume, and pricing of repurchases will depend on market conditions and the company's financial position [2]. Group 2: Financial Position and Strategy - The company emphasizes its strong balance sheet, expected cash flow generation, and robust liquidity position as key factors supporting the repurchase program [2]. - The repurchase initiative is part of the company's commitment to shareholders while maintaining flexibility for strategic growth and operational improvements [2]. Group 3: Company Overview - Calavo Growers, Inc. is a leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole, operating a vertically integrated business model [3]. - Founded in 1924, the company serves various sectors, including retail grocery, foodservice, and food distributors, with operations in the U.S. and Mexico [3].