Calavo Growers Reorganizes Business; Targets $2M Savings Annually - Calavo Growers (NASDAQ:CVGW)

Calavo Growers Inc CVGW said it has organized into two reporting segments, Grown and Prepared, to improve efficiency and save cost. The reorganization is part of Calavo's Project Uno.
The Grown segment will consist of fresh avocados, tomatoes, and papaya.
The Prepared segment will comprise all other products, including fresh-cut fruits and vegetables, ready-to-eat sandwiches, wraps, salads and snacks, guacamole, salsa sold at retail and food service, and avocado pulp sold to food service.
"The new organizational structure will bring clarity to the decision-making process and increase the speed of execution to capture efficiencies and generate growth," said CEO Brian W. Kocher.
The two segments will each be led by a Senior Vice President/General Manager. As a result of the reorganization, the position of Chief Operations Officer is being eliminated.
The company expects ongoing cost savings of over $2 million per year.
Price Action: CVGW shares are trading higher by 0.74% at $38.05 on the last check Wednesday.