Subsequent Event	3 Months Ended
Jan. 31, 2023
Subsequent Event
Subsequent Events	12. Subsequent Events Calavo Salsa Lisa On March 6, 2023, we announced our plans to divest our salsa business in our Prepared segment. This divestiture and the below described restructuring are part of a broader set of organizational and strategic initiatives aimed at optimizing our processes, cost structure and how we operate to ensure that we continue to balance growth with profitability in a challenging industry environment marked by cost pressure driven by inflation and other factors. We expect that the proposed divesture will result in (i) a reduction of our current workforce by approximately 13 employees, and (ii) approximately $0.3 million in writedowns of inventory and approximately $0.5 million in impairment of certain property plant and equipment. We estimate that approximately $0.4 million of impairment and other charges will be recorded in the second quarter of fiscal year 2023 if closing conditions are satisfied. We expect predominantly all of the actions associated with the divestiture to be completed, and substantially all the associated charges and cash expenditures to be incurred, in the second quarter of fiscal year 2023. The estimates of the charges and expenditures that we expect to incur in connection with the proposed divestiture, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, we may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the proposed divestiture. Restructuring of Operations in Mexico and the United States On March 6, 2023, we announced our plans to restructure certain corporate and administrative functions and consolidate activities in our Grown distribution network. We estimate that the proposed restructuring will incur approximately $1.9 million in charges and future cash expenditures, consisting primarily of cash expenditures related to severance payments and implementation costs. We expect predominantly all of the actions associated with the proposed restructuring to be completed, and substantially all the associated charges and cash expenditures to be incurred, in the second quarter of fiscal year 2023. The estimates of the charges and expenditures that we expect to incur in connection with the proposed restructuring, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, we may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the proposed restructuring. When the proposed restructuring is fully implemented, we expect to realize cash savings of approximately $1.2 million in operating expenses, primarily related to employee cash compensation and benefits, over the next 12 months.

Subsequent Event

3 Months Ended

Jan. 31, 2023

12. Subsequent Events

Calavo Salsa Lisa

On March 6, 2023, we announced our plans to divest our salsa business in our Prepared segment. This divestiture and the below described restructuring are part of a broader set of organizational and strategic initiatives aimed at optimizing our processes, cost structure and how we operate to ensure that we continue to balance growth with profitability in a challenging industry environment marked by cost pressure driven by inflation and other factors.

We expect that the proposed divesture will result in (i) a reduction of our current workforce by approximately 13 employees, and (ii) approximately $0.3 million in writedowns of inventory and approximately $0.5 million in impairment of certain property plant and equipment. We estimate that approximately $0.4 million of impairment and other charges will be recorded in the second quarter of fiscal year 2023 if closing conditions are satisfied.

We expect predominantly all of the actions associated with the divestiture to be completed, and substantially all the associated charges and cash expenditures to be incurred, in the second quarter of fiscal year 2023.

The estimates of the charges and expenditures that we expect to incur in connection with the proposed divestiture, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, we may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the proposed divestiture.

Restructuring of Operations in Mexico and the United States

On March 6, 2023, we announced our plans to restructure certain corporate and administrative functions and consolidate activities in our Grown distribution network. We estimate that the proposed restructuring will incur approximately $1.9 million in charges and future cash expenditures, consisting primarily of cash expenditures related to severance payments and implementation costs. We expect predominantly all of the actions associated with the proposed restructuring to be completed, and substantially all the associated charges and cash expenditures to be incurred, in the second quarter of fiscal year 2023.

The estimates of the charges and expenditures that we expect to incur in connection with the proposed restructuring, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. In addition, we may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the proposed restructuring.

When the proposed restructuring is fully implemented, we expect to realize cash savings of approximately $1.2 million in operating expenses, primarily related to employee cash compensation and benefits, over the next 12 months.