Calavo Growers, Inc. Shareholders Approve Merger with Mission Produce; Merger-Related Executive Compensation Not Approved

Santa Paula, CA, April 29, 2026 – At a pivotal special meeting held on April 28, 2026, shareholders of Calavo Growers, Inc. (NASDAQ: CVGW) cast decisive votes regarding the company’s future, most notably approving the proposed merger with Mission Produce, Inc. The results of this meeting may have significant implications for Calavo’s share value and the future structure of the company.

Key Highlights from the Special Shareholder Meeting

• Approval of the Merger Agreement: Calavo shareholders overwhelmingly voted in favor of the merger with Mission Produce, clearing a major hurdle for the transaction. Out of the total votes, 12,110,759 were in favor, versus 960,154 against, with 11,544 abstentions. This strong support positions Calavo and Mission Produce to combine their operations, pending regulatory and additional closing conditions.
• Merger-Related Executive Compensation Not Approved: In a separate advisory vote, shareholders did not approve the proposed compensation packages for Calavo’s named executive officers in connection with the merger. This result highlights shareholder concerns regarding executive payouts tied to the deal and may influence upcoming negotiations or executive actions.

Details Investors Need to Know

• Merger Transaction Details: The approved merger agreement will see Calavo Growers, Inc. merge with Mission Produce, with the structure involving a “First Merger” followed by a “Second Merger,” ultimately resulting in Calavo becoming part of Mission Produce. Mission Produce filed a Form S-4 Registration Statement with the SEC, which includes a prospectus and joint proxy statement mailed to both companies’ shareholders.
• Documentation and Further Steps: The Registration Statement was declared effective on March 20, 2026, and joint proxy materials were distributed starting March 25, 2026. Both companies may file further documents with the SEC regarding the Mergers. Investors are strongly urged to read all filings carefully, as they contain crucial details about the merger’s mechanics, risks, and anticipated outcomes.
• Price-Sensitive and Strategic Implications:
  • The approval of the merger could materially change Calavo’s corporate structure, operational strategies, and future earnings prospects, all of which are likely to impact share value.
  • The failure of the executive compensation proposal may reflect broader shareholder dissatisfaction with leadership incentives, which could influence future management decisions or public perception.
  • The merger remains subject to regulatory approvals and other closing conditions, any of which could still derail the deal or impose new terms, affecting both companies’ valuations.
  • Risks and uncertainties remain, including the potential for litigation, integration challenges, changes in economic conditions, and regulatory scrutiny in the US and Mexico, which could impact the anticipated synergies and financial outcomes.
• How to Access Further Information: Investors can obtain free copies of all SEC filings, including the Registration Statement and Joint Proxy Statement/Prospectus, from the SEC website or directly from the investor relations sections of Calavo and Mission Produce’s websites.

Cautionary Note on Forward-Looking Statements

This announcement contains forward-looking statements, including expectations regarding the completion, timing, and benefits of the proposed merger, as well as ongoing risks related to regulatory approvals, integration, and market conditions. Actual outcomes may differ materially from those expressed or implied. Investors should review all risk factors disclosed in the companies’ recent SEC filings and remain alert to new developments.

Disclaimer: This article is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. The information presented may contain forward-looking statements subject to numerous risks and uncertainties. Investors should conduct their own due diligence and consult with their financial advisors before making investment decisions. The author and publisher do not assume any responsibility for investment actions taken based on this article.

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