Oxnard, Calif. – Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or “the Company”) a world leader in sourcing, producing, and distributing fresh Hass avocados, released insights on the thriving category performance of organic avocados in the U.S. ahead of the Organic Produce Summit (OPS) in Monterey, Calif, from July 10-11, 2024.
“Rising demand for organic produce1 continues to elevate the importance of a strong organic category for retailers across the nation,” said Megan Berenbach, Director of Sales. “As the volume growth of organic produce continues to outpace that of conventional,1 Mission Produce remains the go-to source for fresh, organically grown avocados. With a reliable year-round supply and nationwide distribution, we’re supporting our retail partners in developing their organic categories to meet demand and capitalize on profitable programming opportunities. I’m looking forward to sharing our latest insights at OPS so our partners can discover the Mission Advantage toward a more profitable organic category for avocados and mangos.”
Compared to 2023, the volume sales of organic avocados increased by 19%, outperforming the 7% rise of organic produce overall.1 As the demand for organic avocados grows,1 Mission continues to invest additional resources into organic programs, pursuing innovative ways to support and develop the category. Mission’s organic avocado supply is currently coming from Mexico, Peru, and California, and Mission’s organic mango supply is coming from Mexico.
“Organic shoppers are extremely valuable to retail performance– organic shoppers spend 89% more on organic avocados than the traditional shopper spends on conventional avocados,”2 added Berenbach. “Catering to the organic shopper requires strategic merchandising, and with Mission Produce’s marketplace intelligence and expert category management, we’re confident our partnership can support strong category performance.”
Mission’s organic growers are certified by USDA-accredited inspectors and are audited annually on the requirements set by the Organic Foods Production Act of 1990. Mission’s organic products include bulk organic avocados, packaged World’s Finest Organic Avocados, packaged Mission Minis Organic Avocados and organic mangos.
Mission Produce will be showcasing its complete organic product line at booth #321. For more organic intel, or to schedule a meeting with Mission’s team at OPS, email SalesReps@missionproduce.com.
- Circana, Total U.S. MULO+, Calendar YTD though 6/9/24
- Numerator Insights, 12 months ending 5/31/24
About Mission Produce, Inc.
Mission Produce is a global leader in the worldwide avocado business with additional offerings in mangos and blueberries. Since 1983, Mission Produce has been sourcing, producing and distributing fresh Hass avocados, and currently services retail, wholesale and foodservice customers in over 25 countries. The vertically integrated Company owns and operates four state-of-the-art packing facilities in key growing locations globally, including California, Mexico and Peru and has additional sourcing capabilities in Chile, Colombia, the Dominican Republic, Guatemala, Brazil, Ecuador, South Africa and more, which allow the company to provide a year- round supply of premium fruit. Mission’s global distribution network includes strategically positioned forward distribution centers across key markets throughout North America, China, Europe, and the UK, offering value-added services such as ripening, bagging, custom packing and logistical management. For more information, please visit www.missionproduce.com.
Forward-Looking Statements
Statements in this press release that are not historical in nature are forward-looking statements that, within the meaning of the federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, involve known and unknown risks and uncertainties. Words such as “may”, “will”, “expect”, “intend”, “plan”, “believe”, “seek”, “could”, “estimate”, “judgment”, “targeting”, “should”, “anticipate”, “goal” and variations of these words and similar expressions, are also intended to identify forward-looking statements. The forward- looking statements in this press release address a variety of subjects, including statements about our short-term and long-term assumptions, goals and targets. Many of these assumptions relate to matters that are beyond our control and changing rapidly. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurances that our expectations will be attained. Readers are cautioned that actual results could differ materially from those implied by such forward-looking statements due to a variety of factors, including: limitations regarding the supply of avocados, either through purchasing or growing; fluctuations in the market price of avocados; increasing competition; risks associated with doing business internationally, including Mexican and Peruvian economic, political and/or societal conditions; inflationary pressures; loss of one or more of our largest customers; general economic conditions or downturns; supply chain failures or disruptions; disruption to the supply of reliable and cost-effective transportation; failure to recruit or retain employees, poor employee relations, and/or ineffective organizational structure; inherent farming risks; seasonality in operating results; failures associated with information technology infrastructure, system security and cyber risks; new and changing privacy laws and our compliance with such laws; food safety events and recalls; failure to comply with laws and regulations, including those promulgated by the USDA and FDA, health and safety laws, environmental laws, and other laws and regulations; changes to trade policy and/or export/import laws and regulations; risks from business acquisitions, if any; lack of or failure of infrastructure; material litigation or governmental inquiries/actions; failure to maintain or protect our brand; changes in tax rates or international tax legislation; risks associated with the ongoing conflict in Russia and Ukraine; the viability of an active, liquid, and orderly market for our common stock; volatility in the trading price of our common stock; concentration of control in our executive officers, directors and principal stockholders over matters submitted to stockholders for approval; limited sources of capital appreciation; significant costs associated with being a public company and the allocation of significant management resources thereto; reliance onanalyst reports; failure to maintain proper and effective internal control over financial reporting; restrictions on takeover attempts in our charter documents and under Delaware law; the selection of Delaware as the exclusive forum for substantially all disputes between us and our stockholders; risks related to restrictive covenants under our credit facility, which could affect our flexibility to fund ongoing operations, uses of capital and strategic initiatives, and, if we are unable to maintain compliance with such covenants, lead to significant challenges in meeting our liquidity requirements and acceleration of our debt; and other risks and factors discussed from time to time in our Annual and Quarterly Reports on Forms 10-K and 10-Q and in our other filings with the Securities and Exchange Commission. You can obtain copies of our SEC filings on the SEC’s website at www.sec.gov. The forward-looking statements contained in this press release are made as of the date hereof and the Corporation does not intend to, nor does it assume any obligation to, update or supplement any forward-looking statements after the date hereof to reflect actual results or future events or circumstances.
