Mission Produce, Inc. · NASDAQ:AVO
Mission Produce — Merger or Acquisition (January 2026)
15 slides from Mission Produce's merger presentation, January 2026
Slide 1: Mission Produce, Inc. Acquisition of Calavo Growers, Inc.
Mission Produce, Inc. Acquisition of Calavo Growers, Inc. January 2026
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENTS This communication contains certain “forward-looking statements” within the meaning of federal securities laws. Forward-looking statements may be identified by words such as “anticipates,” “believes,” “could,” “continue,” “estimate,” “expects,” “intends,” “will,
Slide 3: Today's Speakers
Today’s Speakers Stephen J. Barnard John Pawlowski John Lindeman Co-Founder and Chief President, Chief Operating President and Chief Executive Officer Officer and Chief Executive Executive Officer Officer-designate 2
Slide 4: Two Iconic Industry Leaders Coming Together
Two Iconic Industry Leaders Coming Together… ~$1,391mm ~$648mm FY25A Net Sales FY25A Net Sales Leading Global Supplier With ~$111mm1 • AIntegrated global leader in sourcing, Operations Across ~$41mm1 • 100+ year heritage as the producing and distributing Farming, Ripening, fresh Packaging, origina
Slide 5: Creating a Premier North American Avocado & Fresh Produce Platform
…Creating a Premier North American Avocado & Fresh Produce Platform • Top-tier platform across the Pro Forma Product Mix avocado value chain, with a Guacamole Tomato Other + leading position in North America 4% 2% 1% and pathways to expand Mango Avocado internationally 4% Blueberry 84% ~$2bn1 5% Pr
Slide 6: Transaction Overview
Transaction Overview Transaction • Mission Produce to acquire all of the issued and outstanding shares of common stock of Calavo Growers Overview Merger • 0.9790x of a Mission Produce share per Calavo Growers share Consideration • $14.85 of cash per Calavo Growers share • 55% Cash / 45% Stock Cash /
Slide 7: Transaction Highlights
Transaction Highlights 1 Diversified, Year-Round Avocado and Fresh Produce Portfolio 2 Scaled North American Platform with Global Reach and Capabilities 3 Vertically Integrated Platform Across Growing, Marketing, Distribution and Value-Added Foods 4 Entry into High Growth and Margin Accretive Prepar
Slide 8: Diversified, Year-Round Avocado and Fresh Produce Portfolio
1 Diversified, Year-Round Avocado and Fresh Produce Portfolio Portfolio Expansion & Expanded Grower Networks Diversification • Improves year-round reliability • Grower expansion and and helps mitigate seasonal troughs diversification enhances sourcing in avocado supply, supporting security and sup
Slide 9: Scaled North American Platform with Global Reach and Capabilities
2 Scaled North American Platform with Global Reach and Capabilities Strengthened Global Network to Serve Retail, Wholesale and Foodservice Customers Shading Represents Pro Forma distribution and sourcing network Expands U.S. footprint with combined distribution, customer reach and broader product mi
Slide 10: Vertically Integrated Platform Across Growing, Marketing, Distribution and Value-Added Foods
Vertically Integrated Platform Across Growing, Marketing, 3 Distribution and Value-Added Foods Farming / Growing Marketing and Value-add Operations Distribution Prepared Foods + + 9
Slide 11: Entry into High Growth and Margin Accretive Prepared Foods Category
4 Entry into High Growth and Margin Accretive Prepared Foods Category • Prepared segment focused on Key Products High-Growth Category with Additional Upside guacamole and other value-add foods, providing exposure to a high growth and margin accretive category ~$2.7bn ~8% 2025 Global 2025 – 2033 Avo
Slide 12: Significant Value Creation Opportunity via Synergy Unlock
Significant Value Creation Opportunity For Both Shareholders via 5 Synergy Unlock $25mm, with Meaningful Upside Potential, of Identified and …With an Actionable Achievable Run Rate Synergies… Path to Realization Sourcing ~$25 ~7% Freight ~16% SG&A Meaningful Upside ~48% Potential Packaging and Distr
Slide 13: Strong Combined Financial Profile
5 Strong Combined Financial Profile + FY2025A Net Sales $1,391mm $648mm $2,039mm1 Adj. EBITDA (Combined Includes ~$25mm in Run-rate $111mm $41mm $177mm1 Synergies) % margin 8.0% 6.3% 8.7% Net Leverage Ratio ~0.6x ~(1.4x) ~1.7x1,2,3 Source: Company filings Note: Financial figures are for the 12 month
Slide 14: Highly Complementary to Existing Growth Strategy with Incremental Upside
Highly Complementary to Existing Growth Strategy with Incremental Upside Capitalize on strong growth trends in our core U.S. 1 market by optimizing our nationwide distribution network Build on our global supply chain and distribution 2 capabilities to continue developing international markets
Slide 15: Creating Value for All Stakeholders
Creating Value for All Stakeholders Scaled North American Platform, Deeper Customer Coverage, Stronger Grower Network And Improved Sourcing Security Shareholders Growers Meaningful EBITDA growth and cash Stronger partner of choice via sourcing flow generation driven by $25mm security and expanded /
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