Landec Corporation Announces Sale of Curation Foods’ Fresh Packaged Salads and Vegetables Business for $73.5 Million in Cash
Strategic sale results in a CDMO-focused company aligned with attractive growth categories and end markets
Net proceeds from the sale will be allocated towards debt pay down, resulting in significant deleveraging
Announces fiscal second quarter earnings call on
Dr.
Transaction Highlights
The transaction included the sale of all of the assets exclusively associated with Curation Foods’ core fresh vegetable bag, tray, and salad businesses, including its flagship brand Eat Smart®, representing revenue of approximately
Curation Foods’ results of operations related to the assets sold will be reported as discontinued operations beginning in the fiscal third quarter of 2022.
Fiscal Second Quarter Conference Call
Date:
Time:
Direct Webcast link: http://ir.Landec.com/events.cfm
To participate in the conference call via telephone, dial toll-free: 1-877-407-3982 (
A replay of the call will be available through
About
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995 and other safe harbors under the Securities Act of 1933 and the Securities Exchange Act of 1934. Words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “might”, “will”, “should”, “can have”, “likely” and similar expressions are used to identify forward-looking statements. All forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially, including such factors among others, as the timing and expenses associated with operations, the ability of the Company to recognize the anticipated benefits of the transaction with
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Source: Landec Corporation