Calavo Growers (CVGW) just unveiled an update.
Calavo Growers, Inc. has just made a significant move by selling off its prepared food business, excluding its avocado products, to F&S Produce Co., Inc. for a purchase price of $52,020,000 with additional adjustments. This deal also included the transfer of leasehold interests for real property used in the sold business. Meanwhile, the company has also amended its credit agreement, reducing its revolving commitments and machinery subline loans. Amidst these financial reshuffles, Paul Harrison, Executive Vice President RFG Prepared, resigned to join the acquiring entity.
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