Calavo Growers received a non-binding acquisition proposal valued at $32 per share, pending due diligence and financing.
Quiver AI Summary
Calavo Growers, Inc., a leading global provider of fresh avocados and related products, announced that it has received a non-binding proposal to acquire all outstanding shares of the company at a valuation of $32.00 per share, which includes a mix of stock and cash from the interested party. The proposal is currently under review by the company's Board of Directors, alongside their legal and financial advisors, and is subject to conditions such as due diligence and financing. There is no guarantee that this proposal will result in a transaction, and Calavo stated it will not provide further updates unless necessary.
Potential Positives
- The proposed acquisition offer of $32.00 per share significantly values the company and suggests a strong market interest in Calavo Growers, Inc.
- The involvement of the Board of Directors and their consultation with legal and financial advisors indicates a thorough and careful approach to evaluating the proposal, which can strengthen investor confidence.
- This proposal could potentially open new strategic opportunities for Calavo, enhancing its market position and future growth prospects.
Potential Negatives
- The non-binding nature of the acquisition proposal suggests uncertainty about the company's value and may reflect potential weaknesses in its financial health or market position.
- The fact that the proposal is subject to due diligence and financing raises doubts about the buyer's commitment and ability to follow through with the acquisition.
- The company's lack of intent to provide further updates on the proposal may signal a lack of transparency and could lead to speculation that might negatively impact investor confidence.
FAQ
What is the recent proposal received by Calavo Growers?
Calavo Growers has received a non-binding proposal to acquire all outstanding shares at $32.00 per share.
Who is making the acquisition proposal to Calavo?
The proposal comes from a party whose identity has not been disclosed and involves stock and cash consideration.
What will happen next regarding the acquisition proposal?
The Board of Directors is currently reviewing the proposal with their legal and financial advisors, but no further updates will be issued unless necessary.
What does Calavo Growers specialize in?
Calavo Growers specializes in sourcing, packing, and distributing fresh avocados, tomatoes, papayas, and processing guacamole products.
When was Calavo Growers founded?
Calavo Growers, Inc. was founded in 1924 and has a long history in innovation and sustainable practices.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CVGW Insider Trading Activity
$CVGW insiders have traded $CVGW stock on the open market 6 times in the past 6 months. Of those trades, 6 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $CVGW stock by insiders over the last 6 months:
- LECIL E COLE (Chief Executive Officer) has made 3 purchases buying 100,000 shares for an estimated $2,440,445 and 0 sales.
- MICHAEL A BROWNE (Executive Vice President) has made 2 purchases buying 11,000 shares for an estimated $257,740 and 0 sales.
- JAMES E SNYDER (Chief Financial Officer) purchased 3,213 shares for an estimated $74,959
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$CVGW Hedge Fund Activity
We have seen 81 institutional investors add shares of $CVGW stock to their portfolio, and 87 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- KENNEDY CAPITAL MANAGEMENT LLC removed 157,156 shares (-65.9%) from their portfolio in Q1 2025, for an estimated $3,770,172
- GOLDMAN SACHS GROUP INC added 131,674 shares (+91.6%) to their portfolio in Q1 2025, for an estimated $3,158,859
- PENN CAPITAL MANAGEMENT COMPANY, LLC removed 125,614 shares (-74.6%) from their portfolio in Q1 2025, for an estimated $3,013,479
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 118,945 shares (-80.1%) from their portfolio in Q1 2025, for an estimated $2,853,490
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 116,602 shares (-77.2%) from their portfolio in Q1 2025, for an estimated $2,797,281
- BANK OF AMERICA CORP /DE/ removed 112,661 shares (-69.6%) from their portfolio in Q1 2025, for an estimated $2,702,737
- JPMORGAN CHASE & CO added 111,449 shares (+123.2%) to their portfolio in Q1 2025, for an estimated $2,673,661
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
SANTA PAULA, Calif., June 11, 2025 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW) (the “Company” or “Calavo”), a global leader in sourcing, packing and distribution of fresh avocados, tomatoes, papayas and processing of guacamole and other avocado products, today announced that it has received a non-binding, indicative proposal to acquire all of the outstanding shares of the Company for consideration nominally valued at $32.00 per share of the Company’s common stock, consisting of a combination of stock of the proposing party and cash. Among other conditions, the proposal is subject to due diligence and financing. The Company’s Board of Directors is reviewing this non-binding proposal in consultation with its legal and financial advisors. This non-binding proposal may or may not lead to a transaction, and the Company does not intend to comment or update further unless warranted.
About Calavo Growers, Inc.
Calavo Growers, Inc. (Nasdaq: CVGW) is a global leader in the processing and distribution of avocados, tomatoes, papayas and guacamole. Calavo products are sold under the trusted Calavo brand name, proprietary sub-brands, private label and store brands. Founded in 1924, Calavo has a rich culture of innovation, sustainable practices and market growth. The Company serves retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers worldwide. Calavo is headquartered in Santa Paula, California, with facilities throughout the U.S. and Mexico. Learn more about The Family of Fresh™ at calavo.com .
Investor Contact
Jeremy Apple
Senior Vice President
Financial Profiles, Inc.
[email protected]
310-622-8233
