SANTA PAULA, CA - Back at the beginning of this year, Calavo Growers shared some details regarding its 2024 growth strategy, announcing that it was evaluating the potential sale of its Fresh Cut business. Last week, the company announced the completion of the deal, confirming it has sold its Fresh Cut operation to New Jersey-based F&S Fresh Foods for $83 million.
“We are pleased to announce that the sale of our Fresh Cut business has been finalized, which will allow us to focus on our core avocado and guacamole businesses,” said Lee Cole, President and Chief Executive Officer of Calavo Growers. “We would like to thank the team members of the Fresh Cut business for their hard work and years of service to Calavo, and we wish them the best as they transition to F&S. We also would like to thank the team at F&S for partnering with us on this transaction. The Fresh Cut business will be in the very capable hands of F&S, a leader in the industry and one of our long-trusted co-packing partners.”
The deal is subject to various closing adjustments, a press release stated.
Calavo Growers will share another look at its operational growth with the release of its third quarter results on September 9, 2024.
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