Mission Produce Inc. (NASDAQ: AVO) received antitrust clearance from Mexico's Federal Economic Competition Commission for its pending acquisition of Calavo Growers Inc. (NASDAQ: CVGW), the companies announced.

The approval satisfies one of the closing conditions outlined in the merger agreement between the two produce companies. Mission Produce and Calavo expect the transaction to close on May 28, 2026, subject to the satisfaction of remaining closing conditions.

The Mexican antitrust approval represents a regulatory milestone for the merger between the two California-based fresh produce companies. Mission Produce, founded in 1983, operates as a global distributor of Hass avocados and mangos, serving customers in over 25 countries. The company owns five packing facilities across the U.S., Mexico, Peru, and Guatemala.

Calavo Growers, established in 1924, processes and distributes avocados, tomatoes, papayas and guacamole products. The Santa Paula, California-based company operates facilities throughout the U.S. and Mexico, serving retail grocery, foodservice and wholesale customers worldwide.

Mission Produce filed a registration statement on Form S-4 with the Securities and Exchange Commission that includes a joint proxy statement for both companies' shareholders. The definitive joint proxy statement was mailed to stockholders on March 25, 2026, according to the announcement.

Both companies maintain vertically integrated operations in the fresh produce industry, with Mission Produce focusing primarily on avocado sourcing and distribution while Calavo emphasizes processing and value-added products including prepared guacamole.