Calavo Growers, Inc. announced on March 18, 2025, that its Board of Directors has authorized a share repurchase program for up to $25 million of the company's outstanding common stock. This program is set to remain in effect until March 18, 2027, unless it is extended or terminated earlier by the Board.
The company stated that repurchases may be executed through various methods, including open-market transactions at prevailing market prices, privately negotiated transactions, or Rule 10b5-1 trading plans. The timing, volume, and pricing of these repurchases will be determined by management with Board oversight, based on market conditions and the company's financial position.
President and CEO Lee Cole stated that the repurchase program underscores confidence in Calavo's long-term strategy, financial position, and ability to drive shareholder value. This initiative, combined with a strong balance sheet and expected cash flow generation, demonstrates a commitment to shareholders while maintaining flexibility for strategic growth investments.
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