Santa Barbara,Calif.-based Apeel Sciences has announced $250 million in new financing, and endorsements from Oprah Winfrey and Katy Perry.
The financial boosts brings the company’s valuation to more than $1 billion.
The volume of bagged avocados continues to increase every year as consumers seek convenience and/or value options, and retailers discover another way to merchandise avocados and drive sales of multiple pieces of fruit.
California’s avocado crop is expected to rebound in 2020, with the state’s growers shipping 369 million pounds — about a 70% increase over last year — according to the Irvine-based California Avocado Commission.
Though the holiday season is ramping up and autumnal favorites are still in the mix, searches on Produce Market Guide the week of Nov. 4 showed a marked interest in one of winter's domestic specialties: citrus.
While the availability of variety citrus is spurring more options for retailers, the summer citrus deal is about to get a big ray of sunny, yellow supplies: long-awaited Argentinean lemons have started to arrive.