Mission Produce® Implements Policy Addressing Illegal Deforestation
09 November 2024 - 12:00PM
Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or “the Company”) a
world leader in sourcing, producing, and distributing fresh Hass
avocados, today announced the implementation of a policy aimed at
addressing illegal deforestation associated with avocado farming in
Michoacán, Mexico.
“Illegal deforestation in Michoacán, where a significant
majority of Mexico’s overall avocado production is from, is an
important issue to our Company and our stakeholders,” said John
Pawlowski, President and Chief Operating Officer. “For that reason,
we are taking action to promote environmental stewardship in this
area. While we cannot solve the issue of illegal deforestation in
this region alone, this policy demonstrates our commitment to be
part of the solution and aims to set a positive precedent in the
industry.”
In the policy, Mission Produce will prohibit its direct sourcing
operations in Michoacán from sourcing avocados from the 279
orchards recently identified to be associated with illegal
deforestation by the Ministry of Environment for the State of
Michoacán. On a quarterly basis, the Company will review and assess
any additional ranches identified by the Ministry of Environment
for the State of Michoacán to be associated with illegal
deforestation and continue to explore available resources and
methodologies to identify additional actions it can implement to
address this important issue.
The policy can be found on the Sustainability Page of the
Company’s website at www.missionproduce.com/sustainability.
About Mission Produce, Inc.:
Mission Produce is a global leader in the worldwide avocado
business with additional offerings in mangos and blueberries. Since
1983, Mission Produce has been sourcing, producing and distributing
fresh Hass avocados, and currently services retail, wholesale and
foodservice customers in over 27 countries. The vertically
integrated Company owns and operates four state-of-the-art packing
facilities in key growing locations globally, including California,
Mexico and Peru and has additional sourcing capabilities in Chile,
Colombia, the Dominican Republic, Guatemala, Brazil, Ecuador, South
Africa and more, which allow the company to provide a year-round
supply of premium fruit. Mission’s global distribution network
includes strategically positioned forward distribution centers
across key markets throughout North America, China, Europe, and the
UK, offering value-added services such as ripening, bagging, custom
packing and logistical management. For more information, please
visit www.missionproduce.com.
Forward-Looking Statements Statements in this
press release that are not historical in nature are forward-looking
statements that, within the meaning of the federal securities laws,
including the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, involve known and unknown risks and
uncertainties. Words such as "may", "will", "expect", "intend",
"plan", "believe", "seek", "could", "estimate", "judgment",
"targeting", "should", "anticipate", "goal" and variations of these
words and similar expressions, are also intended to identify
forward-looking statements. The forward-looking statements in this
press release address a variety of subjects, including statements
about our short-term and long-term assumptions, goals and targets.
Many of these assumptions relate to matters that are beyond our
control and changing rapidly. Although we believe the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, we can give no assurances that our
expectations will be attained. Readers are cautioned that actual
results could differ materially from those implied by such
forward-looking statements due to a variety of factors, including:
limitations regarding the supply of avocados, either through
purchasing or growing; fluctuations in the market price of
avocados; increasing competition; risks associated with doing
business internationally, including Mexican and Peruvian economic,
political and/or societal conditions; inflationary pressures; loss
of one or more of our largest customers; general economic
conditions or downturns; supply chain failures or disruptions;
disruption to the supply of reliable and cost-effective
transportation; failure to recruit or retain employees, poor
employee relations, and/or ineffective organizational structure;
inherent farming risks; seasonality in operating results; failures
associated with information technology infrastructure, system
security and cyber risks; new and changing privacy laws and our
compliance with such laws; food safety events and recalls; failure
to comply with laws and regulations, including those promulgated by
the USDA and FDA, health and safety laws, environmental laws, and
other laws and regulations; changes to trade policy and/or
export/import laws and regulations; risks from business
acquisitions, if any; lack of or failure of infrastructure;
material litigation or governmental inquiries/actions; failure to
maintain or protect our brand; changes in tax rates or
international tax legislation; risks associated with the ongoing
conflict in Russia and Ukraine; the viability of an active, liquid,
and orderly market for our common stock; volatility in the trading
price of our common stock; concentration of control in our
executive officers, directors and principal stockholders over
matters submitted to stockholders for approval; limited sources of
capital appreciation; significant costs associated with being a
public company and the allocation of significant management
resources thereto; reliance on analyst reports; failure to maintain
proper and effective internal control over financial reporting;
restrictions on takeover attempts in our charter documents and
under Delaware law; the selection of Delaware as the exclusive
forum for substantially all disputes between us and our
stockholders; risks related to restrictive covenants under our
credit facility, which could affect our flexibility to fund ongoing
operations, uses of capital and strategic initiatives, and, if we
are unable to maintain compliance with such covenants, lead to
significant challenges in meeting our liquidity requirements and
acceleration of our debt; and other risks and factors discussed
from time to time in our Annual and Quarterly Reports on Forms 10-K
and 10-Q and in our other filings with the Securities and Exchange
Commission. You can obtain copies of our SEC filings on the SEC’s
website at www.sec.gov. The forward-looking statements contained in
this press release are made as of the date hereof and the
Corporation does not intend to, nor does it assume any obligation
to, update or supplement any forward-looking statements after the
date hereof to reflect actual results or future events or
circumstances.
MediaJenna
AguileraMarketing and Communications
ManagerMission Produce,
Inc.press@missionproduce.com
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