Mission Produce Inc. announced the grand opening of its new $50 million mega distribution center in Laredo, Texas, in celebration of the Company’s first anniversary of its initial public offering on Oct. 1. On Sept. 29, in coordination with the offices of Texas Governor Greg Abbott and City of Laredo Mayor Pete Saenz, Mission held a ribbon cutting ceremony to celebrate the facility’s grand opening. Serving as a major hub for avocados coming from Mexico into the United States, the 262,000-square-foot facility is positioned to funnel product into the rest of the distribution centers in Mission’s advanced network. The facility is designed with state-of-the-art refrigeration, ripening rooms and pallet cooling capabilities, and has the capability to provide logistics support and transportation services, in addition to cold storage, bagging operations and packing for external enterprises, which will generate additional revenue and value for the Company. Mission’s Laredo mega center will strengthen the Company’s advantage in the avocado sector and is expected to increase its third-party storage and distribution capabilities for others in the produce industry, increase access throughout North America and expedite transportation times. Mission has already filled 70 new positions to staff the facility and is expected to reach 110 once at full capacity. The Company’s move has contributed to rapid economic growth in Laredo as the area sees an influx of business investments, specifically from the produce and cold storage industry. Since Mission’s announcement of the distribution center, more than 450 produce or cold storage-related jobs have been added to the Laredo market and the community has seen a total investment of approximately $120 million.