Calavo Growers' Proposal Review Ongoing as Board Considers Buyback, Dividend

Dow Jones

Dec 13

By Katherine Hamilton

Calavo Growers said it is still reviewing strategic alternatives and proposals after receiving an unsolicited acquisition proposal earlier this year.

The avocado company said Friday its review may not result in a transaction. If it doesn't, the board could consider initiating a share buyback or dividend increase, Calavo said.

In June, Calavo received an unsolicited proposal to be purchased for $32 a share. The company has since formed a special transactions committee and has engaged a financial adviser, as well as mergers and acquisitions legal counsel.

Earlier this month, Chief Executive Lee Cole retired. He had been CEO since 2023, when he returned after his stint of more than two decades as CEO ended in 2020.

John Lindeman succeeded Cole. Lindeman was chief financial officer of Calavo for five years until 2020. He is on Utz Brands' board of directors.

Calavo's executive vice president of sales and operations, Mike Browne, also retired earlier in December.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

December 12, 2025 15:54 ET (20:54 GMT)

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If it doesn't, the board could consider initiating a share buyback or dividend increase, Calavo said.In June, Calavo received an unsolicited proposal to be purchased for $32 a share. The company has since formed a special transactions committee and has engaged a financial adviser, as well as mergers and acquisitions legal counsel.Earlier this month, Chief Executive Lee Cole retired. He had been CEO since 2023, when he returned after his stint of more than two decades as CEO ended in 2020.John Lindeman succeeded Cole. Lindeman was chief financial officer of Calavo for five years until 2020. 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