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Avocados Distributor MISSION PRODUCE Raised $96 Million

Esther Thin

Mission Produce Inc, an avocados distributor, raised $96 million by offering 8 million Ads at $12, below the proposed range of $15 to $17.

The company is the world largest in sourcing, producing and distributing fresh avocados, serving retail, wholesale and foodservice customers in over 25 countries. They also provide value-added services including ripening, bagging, packing and logistical management.

The Oxnard, California-based company was founded in 1983 and booked $887 million in sales for the 12 months ended July 31, 2020. It plans to list on the Nasdaq under the symbol “AVO.” BofA Securities, J.P. Morgan and Citi are the underwriters of the IPO.

The company engages Latham & Watkins LLP as US Securities Counsel, and Deloitte & Touche LLP as Independent Auditor.

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