Calavo Growers, Inc. (NasdaqGS:CVGW) announced that it is exploring a sale of its Fresh Cut Business (formerly ?RFG?) to F&S Fresh Foods. ?Since I returned to Calavo as CEO in March, we have renewed our focus on our core avocado and guacamole businesses to maximize profitability, and I am pleased with the progress we have made,? said Lee E. Cole, President and Chief Executive Officer of Calavo Growers, Inc. "To dedicate more focus to our core and to maximize shareholder value, we have been exploring strategic alternatives for our Fresh Cut business, previously known as RFG.

I am pleased to share that we have signed a non-binding letter of intent to evaluate a sale of our Fresh Cut business and some related real estate with F&S Fresh Foods, a leader in the industry and one of our long-trusted co-packing partners?.