Lavoro Limited Warrant - LVROW STOCK NEWS

Lavoro Limited, the U.S.-listed agricultural inputs distributor in Latin America, has completed its acquisition of a majority stake in Cromo Química. This acquisition will enhance Lavoro's Crop Care portfolio with expanded biologics offerings. Lavoro believes that the combination of Cromo Química's products with their operational scale and retail distribution footprint will create immediate value for employees, customers, and shareholders.

Lavoro Limited has appointed Julian Garrido as its new Chief Financial Officer, effective immediately. Garrido brings over 30 years of executive leadership experience in multinational and publicly traded companies. He replaces Laurence Beltrão Gomes, who has stepped down to pursue other opportunities. Lavoro CEO Ruy Cunha expressed gratitude for Gomes' contributions and welcomed Garrido's expertise in navigating the market and executing the company's growth strategy.

Lavoro, the first U.S.-listed pure-play agricultural inputs distributor in Latin America, successfully completed its business combination with TPB Acquisition Corp. I on February 28, 2023, with shares trading under the ticker LVRO beginning March 1, 2023. In the first half of fiscal 2023, Lavoro reported a 45% revenue increase to $1.0 billion, driven by agricultural retail sales and private label products. Gross margin improved by 300 basis points to 20.4%, with profits rising 68% to $50 million and Adjusted EBITDA escalating 88% to $118.5 million. The company also highlighted its expansion strategy with four recent acquisitions, enhancing its market presence in Brazil and entering markets in Chile and Peru. Looking ahead, Lavoro anticipates pro forma revenue of $2.74 billion and Adjusted EBITDA of $210 million for the full fiscal year 2023.

Lavoro Limited (NASDAQ: LVRO; LVROW) has successfully completed its business combination with TPB Acquisition Corp. I on February 28, 2023, and began trading on Nasdaq on March 1, 2023. The company reported a significant jump in revenue for the first half of fiscal 2023, achieving $1.0 billion, a 45% increase compared to the previous year, primarily due to growth in agricultural retail sales and private label products. Adjusted EBITDA surged 88% to $118.5 million. The company will announce detailed earnings on April 10, 2023, indicating a positive outlook for the remainder of the fiscal year.