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USA 02/10/2020

Mike Browne from Mission Produce shares company’s plans

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October 1st Mission Produce, Inc., one of the largest suppliers and distributors of fresh Hass avocados in the world, began trading company’s shares on the NASDAQ Global Select Market, under the symbol “AVO.”  Mike Browne, Chief Operating Officer, explains exclusively to Fructidor what this milestone means for Mission Produce, the avocado industry as a whole, and share company’s plans for the future.

“Definitely it is an exciting step for Mission Produce and I think for all avocado industry, with us being a leader in volume and having the largest avocado network. It gives the company an important opportunity for growth. And I think it is a validation of the category to have investors look at Mission Produce as a viable place to invest. The company has been on the market for almost 40 years, I don’t think there is a lot of mystery there as to kind of innovation and success this company is going to have.” – says Mr. Browne.

Sharing further company’s plans Mike indicates that Mission produce wants to grow in Europe and Asia, and plans to continue growing in Americas, especially in the United States and Canada. “Population in Western Europe is close to population in USA, and they consume as much fruit as USA around 20 years ago. We sell in 25 countries and will continue to grow using our innovation”.

Avocado consumers like it because of health benefits and versatility. In USA Mission Produce makes accent on millennials, as one of the biggest population groups in USA and as they are in their early 30s, soon they will be starting families. “Our demand is built in, we need to continue having good production and good opportunities to keep the demand satisfied,” – says company’s COO.

“We also made one of many key global investments in a distribution center in Laredo, Texas that will serve as a major distribution hub for Mexican avocados to the United States. Construction process is even a bit ahead of schedule. It will be a great addition to our largest avocado network. We are selling 1.5 billion avocados a year, so we need a big facility like Laredo” says Mr. Browne and adds: “the company will be looking at other opportunities; we already have several in mind.”

Commenting company’s plan to grow in Europe Mike says that facility in Breda, the Netherlands, can be enlarged and the company is looking at other opportunities throughout Europe. “We are looking at regional plan, trying to make sure that we will have same kind of characteristics, as we have here in the United States. A lot of our success comes from having ripening facilities and being close to our customers, being able to provide ripe and value added products. The same strategy we will use in Europe and Asia.”

Mike shares that demand for avocados has been growing for the last 10 years enormously, double growth and more. “So I’m confident that in Europe and Asia we are going to see same kind of growth. Demand is really important piece of our future” – he sums up.

Find more information on company’s website.

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Mike Browne from Mission Produce says the company will continue to grow
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