Calavo Growers Board Seen Likely to Reject Takeover Bid -- Market Talk

Dow Jones06-13

1512 ET - Calavo Growers' board is likely to reject the unsolicited acquisition proposal it received Wednesday, analysts say. The $32 a share offer is well above Wednesday's closing price of $23.58, but the stock had fallen sharply earlier this week following earnings, Lake Street analyst Ben Klieve and Sturdivant analyst Mitchell Pinheiro say. They believe Calavo should -- and likely will -- hold out for an offer closer to $35 or $40. Pinheiro believes the proposing party is trying to buy Calavo during a trough cycle, as the company struggles with low volume and extra tariff costs, but he thinks the company's value will increase. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

1526 ET - Calavo Growers' sale of its fresh-cut business in 2024 likely made it a more attractive target for acquisitions, Lake Street analyst Ben Klieve says. Calavo received an unsolicited takeover proposal on Wednesday evening, sending shares up 15% on Thursday. Calavo's fresh-cut segment cut and processed fruit, which was a high-volume and low-margin business, Klieve says. Its sale helped Calavo become a "cleaner asset," Klieve says, possibly driving yesterday's proposal. Consolidation could be a broader trend for the fruit distribution industry, he says, due to a slew of production and logistical challenges over the past five years, such as labor shortages and transportation costs. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

June 12, 2025 15:27 ET (19:27 GMT)

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Pinheiro believes the proposing party is trying to buy Calavo during a trough cycle, as the company struggles with low volume and extra tariff costs, but he thinks the company's value will increase. (katherine.hamilton@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n</font><font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1526 ET - Calavo Growers' sale of its fresh-cut business in 2024 likely made it a more attractive target for acquisitions, Lake Street analyst Ben Klieve says. Calavo received an unsolicited takeover proposal on Wednesday evening, sending shares up 15% on Thursday. Calavo's fresh-cut segment cut and processed fruit, which was a high-volume and low-margin business, Klieve says. Its sale helped Calavo become a \"cleaner asset,\" Klieve says, possibly driving yesterday's proposal. Consolidation could be a broader trend for the fruit distribution industry, he says, due to a slew of production and logistical challenges over the past five years, such as labor shortages and transportation costs. 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Calavo's fresh-cut segment cut and processed fruit, which was a high-volume and low-margin business, Klieve says. Its sale helped Calavo become a \"cleaner asset,\" Klieve says, possibly driving yesterday's proposal. Consolidation could be a broader trend for the fruit distribution industry, he says, due to a slew of production and logistical challenges over the past five years, such as labor shortages and transportation costs. 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The $32 a share offer is well above Wednesday's closing price of $23.58, but the stock had fallen sharply earlier this week following earnings, Lake Street analyst Ben Klieve and Sturdivant analyst Mitchell Pinheiro say. They believe Calavo should -- and likely will -- hold out for an offer closer to $35 or $40. Pinheiro believes the proposing party is trying to buy Calavo during a trough cycle, as the company struggles with low volume and extra tariff costs, but he thinks the company's value will increase. (katherine.hamilton@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n\n     1526 ET - Calavo Growers' sale of its fresh-cut business in 2024 likely made it a more attractive target for acquisitions, Lake Street analyst Ben Klieve says. Calavo received an unsolicited takeover proposal on Wednesday evening, sending shares up 15% on Thursday. Calavo's fresh-cut segment cut and processed fruit, which was a high-volume and low-margin business, Klieve says. Its sale helped Calavo become a \"cleaner asset,\" Klieve says, possibly driving yesterday's proposal. Consolidation could be a broader trend for the fruit distribution industry, he says, due to a slew of production and logistical challenges over the past five years, such as labor shortages and transportation costs. 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