OXNARD, Calif. – Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or “the Company”) a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos and blueberries, today announced the release of its third annual sustainability report, “Finest for the Future,” which communicates the Company’s global sustainability story during fiscal year (FY) 2022. The report details Mission’s operating procedures, projects and achievements, as well as reports on the Company’s global use of resources.
“For 40 years, we have invested in sustainable practices to protect our land, preserve our resources and support the health and safety of our people,” said Steve Barnard, Chief Executive Officer. “We strive to create a positive impact not only for our company, but for the communities and environments in which we operate.”
Mission’s sustainability highlights for FY 2022 include:
- People: From FY 2020 to FY 2022, Mission’s global charitable giving has increased by 450%, contributing to causes supporting children, families and agriculture education. One of its largest investments in 2022 involved significant infrastructure developments in La Libertad, Peru, where Mission supported the renovations of several public buildings and the construction of a bypass for clean drinking water. These advancements aim to improve quality of life for the communities surrounding Mission’s Peruvian field and packhouse operations.
- Product: As part of the Company’s commitment to reduce the environmental impact of its products, Mission has a goal to reduce the plastic in 50% of the bags packed and shipped globally by FY 2025. In FY 2022, 46% of Mission’s bags were made with reduced plastic, and since FY 2021, the Company has saved an estimated 5.4 million grams of plastic, the equivalent of 420,000 plastic bottles.1
- Planet: In FY 2022, Mission planted nearly 200,000 new trees in harmony with the existing ecosystems of its managed farms in Peru, Guatemala and Colombia. Mission’s avocado trees provide a dual impact in combatting climate change– they convert carbon dioxide (CO2) into oxygen through photosynthesis, as well as capture and store CO2 through carbon sequestration. In FY 2022, the CO2 stored by Mission’s trees in Peru is estimated to equal at least 21% of Mission’s total reported emissions.2
“Mission’s approach to sustainability is strategically designed to focus on the areas and risks most relevant to our business,” said Delanie Beeson, Global Science and Sustainability Manager. “We seek to minimize the impact of our global footprint and consistently evaluate opportunities to implement sustainable practices throughout our operations. Each of our initiatives is developed and executed to mitigate important sustainability risks affecting our people, product and planet.”
For more information on Mission’s commitment to sustainability and to download the full FY 2022 sustainability report, visit www.missionproduce.com/sustainability.
End Notes
- Calculated using the U.S. Environmental Protection Agency’s (EPA) Greenhouse Gas Equivalencies Calculator.
- Calculated using carbon sequestration data from a study done by Instituto de Investigaciones Agropecuarieas Santiago, “Huella de carbono en productos de exportación agropecuarios de Chile.”
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About Mission Produce, Inc.:
Mission Produce is a global leader in the worldwide avocado business. Since 1983, Mission Produce has been sourcing, producing and distributing fresh Hass avocados, and as of 2021, fresh mangos, to 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 13 forward distribution centers that are strategically positioned in 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 (as of 12.13.22)
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 ur 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 on analyst 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.
