©Eat Smart
Taylor Farms has acquired Curation Food’s fresh packaged salads and vegetables business for $73.5 million.
Curation Foods is a subsidiary of health and wellness company Landec Corporation. The deal includes the Eat Smart brand, as well as production facilities in Guadalupe, California, and Bowling Green, Ohio.
The purchase of Curation Foods’ packaged salad and vegetables business will help Taylor Farms meet growing demand for chopped and prepared produce.
The transaction will enable Landec Corporation to focus on its growing Lifecore Biomedical business, which offers “capabilities in the development, fill and finish of complex sterile injectable pharmaceutical products in syringes and vials”.
Albert Bolles, CEO of Landec Corporation, said: “Closing on this transaction today marks an important milestone in Project Swift – the company’s framework for enhancing the value and performance of the Curation Foods business – and demonstrates ongoing efforts to extract value from our non-core assets and re-orient the company around our rapidly growing Lifecore Biomedical business.”
He continued: “While there’s more work to do, the company is laser-focussed on the business and assets that are growing at a greater rate, produce more attractive margins and have value that is presently underappreciated. Going forward, we will maintain our continued commitment to maximise the value of our Lifecore and remaining Curation Foods businesses. We are excited about the path ahead.”
Taylor Foods says the transaction was made effective from December 2022.
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