Landec Closes Sale Of Curation Food's Fresh Packaged Salads, Vegetables Business

by Shivani Kumaresan, Benzinga Staff Writer

December 14, 2021 5:55 AM | 1 min read | Make a Comment

Landec Corp LNDC has completed the sale of its Curation Food's fresh packaged salads and vegetables business for $73.5 million in cash to Taylor Farms Retail Inc.
The company plans to use net proceeds to repay borrowings under its credit facility.
The transaction included the sale of Curation Foods' core fresh vegetable bag, tray, and salad businesses, including its flagship brand Eat Smart. The company has retained transaction its avocado products or technology businesses.
The company plans to report Curation Foods' results of operations related to the assets sold as discontinued operations beginning in the fiscal Q3 of 2022.
Price Action: LNDC shares closed 1.84% higher at $9.43 on Monday.

Posted In: M&A News Briefs Materials Specialty Chemicals

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.