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Mission Produce CEO calls IPO price 'disappointing,' talks expansion - Business Insider

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Mission Produce's CEO thinks the produce company can bounce back from today's 'disappointing' IPO by winning over Europe with its famous Haas avocados

Mission Produce, a major avocado distributor, went public Thursday in a downsized IPO.

He added that the company is moving ahead with plans to expand its international operations, targeting higher sales of its Hass avocados in Europe and Asia.The IPO market has started to rebound from its freeze this past spring, with a number of small companies listing stock. But going publicThe California-based avocado distributor had been planning its IPO long before COVID-19 started weighing down financial markets, CEO Steve Barnard told Business Insider in an interview Thursday.

Expanding sales opportunities abroad is one opportunity, Barnard said. Cash raised from the IPO will go in part toward expanding cold distribution networks in Europe and Asia, where the company believes it has more room to grow sales of its Hass avocados.

 

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