Topic: How To Invest

Q: Pat: What do you think about Mission Produce? This avocado stock looks interesting. Thanks.

Article Excerpt

A: Mission Produce Inc., $11.75, symbol AVO on Nasdaq (Shares outstanding: 70.7 million; Market cap: $821.2 million; www.missionproduce.com), is a California-based fresh avocado distributor. The company has customers in more than 25 countries. Since 1983, Mission Produce has been sourcing, producing and distributing fresh avocados. Starting this year, it has added fresh mangoes for its retail, wholesale and foodservice customers. The company owns and operates four packing facilities in key growing markets, including California, Mexico and Peru. It also has sourcing capabilities in Chile, Colombia, the Dominican Republic, Guatemala, New Zealand and South Africa. This lets Mission Produce supply premium fruit year-round. The firm’s global distribution network includes twelve distribution centres in North America, China and Europe. They offer value-added services such as ripening, bagging, custom packing and logistical management. In addition, Mission owns over 11,300 acres of growing land in Peru, Guatemala and, through a joint venture, in Colombia. Mission Produce went public on September 30, 2020, selling eight million shares to the…