Mission Produce, a leading supplier of fresh avocados, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Mission Produce is a world leader in sourcing, producing, and distributing fresh avocados. It serves retail, wholesale, and foodservice customers in over 25 countries. The company owns over 10,000 acres in Peru, of which over 8,300 acres are currently producing primarily avocados. The remaining are greenfields that the company intends to plant and harvest over the next few years.
The Oxnard, CA-based company was founded in 1983 and booked $934 million in sales for the 12 months ended April 30, 2020. It plans to list on the Nasdaq under the symbol AVO. Mission Produce filed confidentially on February 13, 2020. BofA Securities, J.P. Morgan and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
