US produce company Calavo Growers has appointed its former finance chief B. John Lindeman as its new CEO.
Lindeman will succeed Lee Cole, who will retire as president and CEO on 8 December.
Founded in 1924, the company processes and distributes avocados, tomatoes and papayas, along with guacamole under the Calavo brand.
Kathleen Holmgren, chair of the board of directors at Calavo, said: “On behalf of the Board and the entire Calavo family, I want to express our deep gratitude to Lee for his decades of outstanding leadership and his many contributions that helped Calavo become a trusted name in fresh and prepared foods.
“He led the company through multiple market cycles, strengthening our operational foundation and expanding our global reach. Lee’s disciplined approach and focus on performance have set a high standard for our industry.”
Lindeman was most recently CEO of Hydrofarm Holdings Group, a manufacturer and distributor of branded hydroponics equipment and supplies for controlled-environment agriculture.
After almost five years as Calavo CFO, he joined Hydrofarm in 2020 as finance chief and became CEO and a board director in January this year.
Holmgren, who was elected as the chair last month, added: “We’re very pleased to welcome John back to the executive team. He knows this company well from his time as CFO and as a current board member. John brings deep industry knowledge and strategic insight as well as significant experience in mergers and acquisitions that will serve Calavo well in advancing our strategic priorities.”
Lindeman added: “With the dedication and expertise that define Calavo’s culture, we are well positioned to deepen partnerships, drive growth, and create sustainable value for our shareholders.”
Alongside the appointment, Calavo also provided an update on the takeover interest it received in June from an undisclosed party.
The company said it is “evaluating all strategic alternatives”.
“The review process remains ongoing and may or may not result in a transaction. Calavo does not intend to comment further unless a specific development warrants disclosure,” it added.
For the fiscal third quarter ended 31 July 2025, Calavo reported net sales of $178.8m, down 0.4% year on year.
Fresh segment sales were $155.9m, a 5% decline, while prepared segment sales rose 40% to $22.9m.
Operating income fell 7.5% to $8.6m. Net income was $4.7m, compared with a loss of $762,000 a year earlier.
For the nine months ended 31 July, net sales were $523.7m, up 6.5% on the prior-year period.
Fresh segment sales increased 6% to $470.3m and prepared segment sales rose 10% to $53.5m.
Operating income climbed 55.6% to $21.3m, while net income improved to $16.1m from a loss of $920,000 in the comparable period of 2024.
