Calavo Growers, Inc. has announced a $25 million stock repurchase program, indicating the company's confidence in its long-term strategy and ability to drive shareholder value. This move comes on the heels of a strong balance sheet and robust liquidity position, allowing the company to enhance shareholder value while maintaining flexibility for strategic growth initiatives and operational improvements.
The share repurchase program will be in effect until March 18, 2027, unless extended or terminated earlier by the board of directors. The company is authorized to repurchase its common stock through open-market transactions at prevailing market prices, privately negotiated transactions, or rule 10b5-1 trading plans as permitted under federal securities laws and regulations.
Calavo Growers, Inc. (NASDAQ: CVGW) is a global leader in the processing and distribution of avocados, tomatoes, papayas, and guacamole. Founded in 1924, the company operates a vertically integrated business model, serving retail grocery, foodservice, club stores, and food distributors worldwide. Headquartered in Santa Paula, California, Calavo maintains operations throughout the U.S. and Mexico.
This announcement reflects the company's commitment to driving shareholder value and its confidence in its ability to generate cash flow and maintain a strong financial position. Today the company's shares have moved 2.7% to a price of $24.2. If you want to know more, read the company's complete 8-K report here.
