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.
The new U.S.-Japan trade agreement will deliver a tariff reduction and higher safeguard levels for U.S. orange shipments, and that should translate to a moderate increase in U.S. orange exports to Japan in 2020.
Easy-peel mandarins have risen in popularity for consumers looking for a healthy snack, and the Bee Sweet Citrus sales team is celebrating the beginning of the domestic season with its most popular varieties.