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Mission Produce report highlights commitment to sustainable farming and waste reduction

Mission Produce report highlights commitment to sustainable farming and waste reduction
Photos: Mission Produce

Avocado specialist Mission Produce has published its first Environmental, Social and Governance (ESG) report, titled ‘Finest for the Future’. The report outlines the firm’s progress towards sustainable farming, and in addressing diversity, equity and inclusion (DE&I), climate risk, waste reduction and community investment. 

Mission Produce chief executive and founder Steve Barnard said: “Mission Produce’s first ESG report illustrates our dedication to the finest practices for our people, product and planet. We embody sustainable practices from field to fork and our advanced farming practices allow us to keep our water usage per avocado well below the industry average. Our people are passionate and have an innovative spirit, constantly driving our operations to reduce our environmental footprint and contribute positively to our global community.” 

With a focus on investing in people, reducing water and waste, and minimising carbon emissions, key highlights of the report include the implementation of reduced plastic bags in at least 50% of the bags packed and shipped globally by fiscal year 2025, equating to almost 500,000 0.5-litre plastic bottles. The report also highlighted Mission’s precision and biodiverse farming methods, which use 40.5% less water in its Peruvian production and 40% less water at its California base. 

By the end of 2021, Mission aims to apply shelf-life extension technology to 10,200 tons of avocados to combat food waste and reduce shrink of avocados, the equivalent of powering almost 563 homes, according to the United States Environmental Protection Agency (EPA) Greenhouse Gas (GHG) calculator.

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First Californian avocados land in China

First Californian avocados land in China © Mission Produce

© Mission Produce

 

Mission Produce and Mr. Avocado have sent the first-ever shipment of avocados to China from California. The market access was granted for avocados from California following years of negotiation and planning between the California Avocado Commission, the USDA and the government of China.

Steve Barnard, CEO and founder of Mission Produce, said: “Mission was the first  to send avocados to China from Peru, Chile and Colombia – and now we’re the first to send from California. Our goal is to provide a year-round supply of the world’s finest avocados, and now we’re doing so with more volumes and availability than before.”

John Wang, CEO of Mr. Avocado, said: “Sourcing from the premium source of California will open more opportunity for Chinese retailers to capitalise on the lucrative and healthy avocado. California avocados are  high  quality in late  winter to early spring, which hits the market in perfect time to allow consumers the ability to enjoy a great tasting piece of fruit year round.”

Transit time from California to China takes 14-16 days by sea. California avocados in China are expected to be available at Ole, Rainbow Supermarket, Aldi China, JD.com, Seven Fresh and Pagoda stores.

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Mission Produce joins Eurosemillas 

Mission Produce joins Eurosemillas 

Mission Produce, the world’s most advanced avocado network, has strengthened its global leadership by joining Eurosemillas in Green Motion. Green Motion is an international platform that broadens the varieties and rootstocks available to growers, advances the creation of diversified and sustainable markets, and facilitates access to the University of California, Riverside’s (UCR) germplasm collection. The platform was born after a ground-breaking partnership announced earlier this year between Spain-based Eurosemillas, a global leader in the development and commercialization of agricultural innovation, and UCR, whose 70-year-old avocado breeding programs house one of the most elite germplasm collections of scion and rootstock material in the world.

Green Motion is conducting trials of varieties that have already shown excellent potential at UCR’s test sites in California, a region with Mediterranean climate and growing conditions. Together with other member companies of Green Motion, Mission Produce will bring its world-class experience to evaluate advanced selections of four Hass-like avocado varieties and five rootstocks. If validated, these varieties and rootstocks will ultimately extend the front and back ends of the traditional Hass marketing window. They may also provide increased tolerance to diseases, drought, heat, and soil salinity.

Javier Cano, Director of Business Development for Eurosemillas, said: “We are absolutely delighted to have Mission Produce on board with us at Green Motion. Together we will work to build the future of the global avocado industry, creating a diversified and sustainable market and providing excellent new opportunities to growers around the world.”

Steve Barnard, president & CEO of Mission Produce, said: “Mission Produce is excited to be part of Green Motion. We are confident that with our expertise, we can help create an even brighter future for the global avocado industry.”

Brian Suh, director of technology commercialisation at UCR, said: “We have released several well-known avocado varieties available on the market today. We are thrilled to have our advanced scion and rootstock selections tested and evaluated internationally through Green Motion with the goal of bringing the next generation of avocado cultivars to industry around the world.”

 

 

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Mission Produce Announces Pricing of Initial Public Offering

Mission Produce Announces Pricing of Initial Public Offering

                                                                                                                                                                                         Press release

OXNARD, Calif., Sept. 30, 2020 (GLOBE NEWSWIRE) — Mission Produce, Inc. (“Mission” or the “Company”) today announced the pricing of its initial public offering of 8,000,000 shares of its common stock, consisting of 6,250,000 shares being offered by the Company and 1,750,000 shares being offered by certain selling stockholders, at a price to the public of $12.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,200,000 shares of common stock from the Company. The shares are expected to begin trading on the NASDAQ Global Select Market on October 1, 2020, under the symbol “AVO.” The closing of the offering is expected to occur on October 5, 2020, subject to the satisfaction of customary closing conditions.

BofA Securities, J.P. Morgan and Citigroup are acting as bookrunning managers for the offering. Roth Capital Partners, Stephens Inc. and D.A. Davidson & Co. are acting as co-managers.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission and was declared effective on September 30, 2020. The offering will be made only by means of a prospectus. A copy of the final prospectus relating to the offering may be obtained, when available, from: BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or via email: dg.prospectus_requests@bofa.com; J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at: (866) 803-9204.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Mission Produce, Inc.
Mission Produce is a world leader in sourcing, producing and distributing fresh avocados, servicing retail, wholesale and foodservice customers in over 25 countries. The Company’s operations consist of four packing facilities in the United States, Mexico and Peru, 11 distribution and ripening centers across the U.S., Canada, China and the Netherlands, as well as three sales offices in the U.S., China and the Netherlands.

 

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Mission Produce and Hazel Technologies unveil exclusive post-harvest technology: AvoLast Powered by Hazel 

Mission Produce and Hazel Technologies unveil exclusive post-harvest technology: AvoLast Powered by Hazel 

                                                                                                                                                                                         Press Release

Mission Produce Inc. (“Mission” or the “Company”), the world’s most advanced avocado network, today announced the launch of a premier post-harvest  programAvoLast Powered by Hazel®, featuring  a quarter-sized biodegradable and food-safe packaging insert that blocks ethylene receptors while minimizing operational impact to the supply chain. AvoLast was exclusively developed with Hazel Technologies, Inc., a USDA-funded agricultural technology company aimed at reducing food waste and increasing the efficiency of produce supply chains. Mission and Hazel Technologies announced their partnership in 2019. 
 
“As consumers adapt to new habits and behaviors during this time of uncertainty, AvoLast is the perfect solution to support the longevity of avocados on the shelf or behind the counter. With AvoLast retailers and foodservice businesses can reduce shrink and continue or enhance their avocado ripening programs without compromising on consumer experience due to overripe fruit,” said Mission Produce’s Sr. Director of Business Development Patrick Cortes. “After testing the solution in various environments throughout our supply chain, AvoLast avocados had an extended ripe shelf life of 2-3 days.”  
 
By increasing the shelf-life of both hard and ripe Hass avocados, Mission’s retail and foodservice customers can reduce throwaways, in turn increasing profit and minimizing inventory stress, while creating more positive consumer experiences that drive category growth. Above all, AvoLast can also reduce global food waste, an increasing environmental, ethical and financial threat. 
 
“AvoLast is the rare win/win solution that delivers a better consumer experience and substantial environmental benefits,” said CEO of Hazel Technologies Aidan Mouat. “In the US alone, food distribution waste consumes about 6% of our total energy budget, 24% of our fresh water, and generates somewhere around 300M metric tons harmful carbon emissions. As the market demands efficiencies to reduce this waste, Hazel’s technology is increasingly vital.” 
 
In all, AvoLast provides many in demand solutions such as extending shelf-life, improving customer experience, decreasing shrink, and reducing global food waste. “AvoLast is just one way Mission continues to invest in innovation and provide value to our customers,” added Cortes. 
 
Mission Produce plans to launch and discuss AvoLast at the virtual PMA Foodservice Delivered event beginning on July 20, 2020. To find out more information on AvoLast and its benefits to both retail and foodservice industries, visit the Company’s PMA Foodservice Delivered virtual booth or connect with a Mission Produce Sales Representative. Registration for PMA Foodservice Delivered can be found by visiting https://www.pma.com/events/foodservice-delivered. 

About Mission Produce, Inc.: Mission Produce is the world’s most advanced avocado network. For more than 35 years, Mission Produce has been recognized as the leader in the worldwide avocado business, sourcing, producing and distributing fresh avocados, servicing retail, wholesale and foodservice customers in over 25 countries. The vertically integrated Company owns and operates four state-of-the-art avocado packing facilities in key growing locations globally including California, Mexico & Peru and has additional sourcing capabilities in Chile, Colombia, Dominican Republic, Guatemala, New Zealand, & South Africa. Mission’s global distribution network includes eleven forward distribution centers in North America, China & Europe that offer value-added services such as ripening, bagging, custom packing and logistical management. In addition, Mission owns over 19,000 acres globally, allowing for diversified sourcing and access to complementary growing seasons, while ensuring its customers receive the highest quality fruit possible.  Mission is the largest global supplier of the World’s Finest Avocados, for more information please visit worldsfinestavocados.com. 
 
About Hazel Technologies, Inc.:
Hazel Technologies is a USDA-funded startup company that develops new technologies to extend the quality shelf life of fresh produce. Founded in 2015, Hazel Tech works with over 100 of the largest fresh produce packers, shippers, and retailers in the US and Latin America. For more information, visit us at www.hazeltechnologies.com today! 
 
 
 

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Mission Produce expands the distribution of Minis and Emeralds in the Rough lines of avocado

Mission Produce, the world leader in Hass avocado producing, marketing and distributing, has expanded the sales of their avocado lines, Minis and Emeralds in the Rough. “Our concept was to sell the whole tree, reduce waste and be more sustainable,” explains Roberto Rodriguez, export sales manager. “Rough outside, just as flavourful on the inside” – that is the idea we want to convey to our customers. Consumers used to have negative perception of imperfect produces, and we were selling grade 2 avocados to Horeca sector. Two years ago, we started to use value added packaging and market imperfect avocados, explaining to our clients that exterior flaws do not influence the quality and taste of the avocados; and we achieved our goal – the perception of consumers has changed. Another concept introduced by Mission Produce, Minis Small but Mighty, is also in demand.

“We have distributed these lines in North America with huge success and are expanding them to other markets. We displayed the samples at our stand at Fruit Logistica, and got considerable interest from the Fair visitors,” concluded Rodriguez.

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Mission Produce opens Ripe Center in Calgary

Distribution center is the company’s second in Canada, and 11th worldwide Oxnard-based Mission Produce today announced that it has completed construction on its latest Ripe Center.

The Ripe Center, based in Calgary, Canada, will service customers in Western Canada with ripe fruit throughout the year. Mission has operated a distribution center Toronto since 2010, and the addition of the new center in Calgary allows the company to service the Western half of the country from a center that is designed to deliver to customers from Winnipeg to Vancouver. According to Ben Barnard, Mission’s Senior Director of Operations, the Ripe Center implements new technology designed specifically for avocados. “It is a 40,000 square-foot, purpose-built facility that has 4 ripe rooms with a total capacity to ripen 96 pallets. We developed the Calgary Ripe Center with our internal engineering team. It uses the latest in avocado ripening technology that is unique to Mission Produce, including advance high-efficiency refrigeration, lighting and control systems to minimize our energy usage. It was designed and built to meet or exceed all food safety requirements.” According to Brent Scattini, Mission’s Vice President of Sales and Marketing, opening the Calgary Ripe Center was a logical step in further serving the Canadian market. “The Calgary facility is a natural counterpart to our Toronto facility, and gives us the ability to service customers more rapidly. By having a depot in Calgary, we can relieve some of the burden on the Toronto Ripe Center. It also allows us more ripe capacity while developing faster deliveries of both hard and ripe fruit for customers in the West. It gives us another hub and further extends our coverage of North America.” Mission’s President & CEO, Steve Barnard, added: “Canada is a very important market for Mission, and adding the Calgary Ripe Center expands our capacity and our ability to distribute to our customer base in a timely manner. This is the third Ripe Center we’ve opened this year–after opening Centers in Europe and China. We currently operate 11 Mission-owned centers around the world, and we plan to continue to grow globally.”

About Mission Produce: Mission Produce operates state-of-the-art avocado packing facilities in California, Mexico, Peru and Chile. In addition, the company’s global distribution network includes nine ripe centers in North America, with additional ripe centers in Europe and China. Over the past 34 years, Mission has grown to become the leader in the worldwide avocado business.