Calavo completes sale of Fresh Cut Business for $83 million

California-headquartered Calavo Growers has completed the sale of its Fresh Cut Business to F&S Fresh Foods. The $83 million transaction, completed Aug. 15, is subject to various closing adjustments.

“We are pleased to announce that the sale of our Fresh Cut business has been finalized, which will allow us to focus on our core avocado and guacamole businesses,” Lee Cole, Calavo Growers president and CEO, said in a news release. “We would like to thank the team members of the Fresh Cut business for their hard work and years of service to Calavo, and we wish them the best as they transition to F&S. We also would like to thank the team at F&S for partnering with us on this transaction.

“The Fresh Cut business will be in the very capable hands of F&S, a leader in the industry and one of our long-trusted co-packing partners.”

The pending sale was announced in January.

Founded in 1924 and headquartered in Santa Paula, Calavo sells fresh-cut fruit, vegetables and prepared foods.

The company has processing plants and packing facilities throughout the U.S. and Mexico.

F&S Fresh Foods, headquartered in Vineland, New Jersey, distributes fresh-cut fruits and vegetables to nearly 100 million customers daily, according to its website, and processes more than 100 million pounds of produce annually for retail, food service and industrial customers.