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Benzinga
Benzinga
Business
Shivani Kumaresan

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

  • Landec Corp (NASDAQ: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.
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