Mission Produce™ Continues International Expansion, Announces Plans to Open United Kingdom Distribution Center in 2023

2022年09月20日19:00

Hub in Dartford, England, to Feature Innovative “Mission Control” Ripe Room Technology

OXNARD, Calif., Sept. 20, 2022 (GLOBE NEWSWIRE) -- Mission Produce, Inc. (NASDAQ: AVO) (“Mission” or the “Company”), a world leader in sourcing, producing, and distributing fresh Hass avocados with additional offerings in mangos, today announced plans to open a state-of-the-art ripening, packing and forward distribution center (FDC) in Dartford, England, in 2023. Strategically located with direct access to major international ports and transportation networks, the facility is expected to strengthen Mission’s expanding international footprint and optimize product distribution to the Company’s European customer base.

“Mission Produce remains at the forefront of emerging markets and continues to lead as one of the largest, most advanced avocado networks globally,” said Steve Barnard, Chief Executive Officer (CEO) and Founder of Mission. “Mission’s UK FDC is a world-class facility designed to streamline operations while delivering a cost-effective model. This milestone represents a significant opportunity for our business and enhances our ability to drive global avocado consumption as we accelerate our reach in the European market.”

Mission’s 102,000-square-foot UK FDC is located near the UK’s largest ports and airports and at the intersection of England’s extensive transportation networks, with direct access to the M25. The building is sustainability-focused and certified by an internationally accepted sustainability standard with a BREEAM “excellent” rating for its efficient use of resources, including its incorporation of solar panels and rainwater harvesting.

“The facility’s strategic location provides Mission with unique access to the growing UK market for avocados while simplifying import logistics and expediting transit times,” said Ben Barnard, Vice President of Business Operations. “Meanwhile, the facility’s sustainable systems and use of renewable energy are expected to promote energy, cost and maintenance savings.”

Featuring cutting-edge technology, the facility is designed to maximize logistical efficiencies and enhance product quality. It will be Mission’s first facility to feature the “Mission Control” exclusive ripening room technology, which involves a specialized atmosphere control process to create the optimal environment for ripening. By utilizing “Mission Control” technology, the Company will have the ability to ripen fruit to customer specification in a manner that is distinctive and advantageous compared to other suppliers in the industry. In addition, the facility incorporates grading visibility technology, which can reduce handling times and minimize fruit damage, and testing machinery, which can determine stages of ripeness with advanced precision.

“We are currently the only supplier in the industry with our specialized ‘Mission Control’ technology, which supports enhanced quality, longer shelf-life and waste reduction,” said Paul Frowde, Managing Director at Mission Produce UK. “Our innovative processes coupled with our leading team of ripening experts enhances our ability to provide excellent service and custom offerings for our UK customer base.”

Mission’s owned or partnered production from South Africa, Peru, Colombia and Guatemala is expected to be distributed through the facility across Europe.

“We are leveraging our vertical integration and presence in key markets to position us for sustained growth,” added Steve Barnard. “With nearly 6,000 hectares of owned or partnered farms across South America, our vertical integration well-positions us to provide the European market with a year-round supply of high-quality avocados. We aim to propel the avocado category forward in Europe, as we have in the U.S. market.”

Mission Produce’s UK FDC will be located at Unit 3, Clipper Boulevard, Crossways Business Park, Dartford, DA2 6QB. For sales inquiries, please contact Mission Produce UK at mpuksales@missionproduce.com.

About Mission Produce, Inc.:

Mission Produce is a global leader in the worldwide avocado business. Since 1983, Mission Produce has been sourcing, producing and distributing fresh Hass avocados, and as of 2021, fresh mangos, to retail, wholesale and foodservice customers in over 25 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 12 forward distribution centers that are strategically positioned in key markets throughout North America, China and Europe, 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; the loss of one or more of our largest customers or a reduction in the level of purchases by customers; doing business internationally, including Mexican and Peruvian economic, political and/or societal conditions; fluctuations in market prices of avocados; increasing competition; inherent farming risks; variations in operating results due to the seasonality of the business; general economic conditions; the effects of the COVID-19 pandemic, including resulting economic conditions; inflationary pressures and increases in costs of commodities or other products used in our business; food safety events and recalls of our products; changes to USDA and FDA regulations, U.S. trade policy, and/or tariff and import/export regulations; restrictions due to health and safety laws; significant costs associated with compliance with environmental laws and regulations; acquisitions of other businesses; the ability of our infrastructure to handle our business needs; supply chain optimization failures or disruptions; disruption to the supply of reliable and cost-effective transportation; failure to recruit and retain key personnel and an adequate labor supply and lack of good employee relations; information system security risks, data protection breaches and systems integration issues; changes in privacy and/or information security laws, policies and/or contractual arrangements; material litigation or adverse governmental actions; failure to maintain or protect our brand; changes in tax rates or international tax legislation; risks associated with our indebtedness; 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; the Russia/Ukraine conflict; 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.

Contact

Investor Relations

ICR

Jeff Sonnek

646-277-1263

jeff.sonnek@icrinc.com

Media

Jenna Aguilera

Marketing and Communications Manager

Mission Produce, Inc.

press@missionproduce.com

Supplemental Materials

Crossways Commercial Park Aerial View

Crossways 102, Front View of Mission UK FDC

Inside Mission’s UK Forward Distribution Center

Outside Mission’s UK Forward Distribution Center

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