LIFECORE BIOMEDICAL, INC. DE (LFCR): M&A transaction — Lifecore Biomedical sells avocado products business for $17.5M cash

LIFECORE BIOMEDICAL, INC. DE

Purchase price of $17.5M in cash, subject to post-closing adjustments including net working capital.
Sale includes Yucatan and Cabo Fresh brands and manufacturing facility in Guanajuato, Mexico.
Net proceeds used to repay borrowings under existing credit agreements.
Lifecore retains only O Olive from former Curation Foods segment; continues to grow core business.
Transition services agreement with buyer for up to three months following closing.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

LIFECORE BIOMEDICAL, INC. DE completed a disposition involving Yucatan Acquisition Holdings LLC for $17.5 million in cash (closed 2023-02-07).

Action: disposition
Counterparty: Yucatan Acquisition Holdings LLC
Consideration: $17.5 million in cash
Closing: 2023-02-07

Exact text from the filing

executed by the Parties on February 7, 2023 (the “Securities Purchase Agreement”). Pursuant to the Securities Purchase Agreement, Buyer acquired Yucatan for a purchase price of $17.5 million in cash, subject to certain post-closing adjustments, including net working capital, at closing. Following the Yucatan Disposition, the Company continues to grow its Lifecore

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

LIFECORE BIOMEDICAL, INC. DE entered into Securities Purchase Agreement with Yucatan Acquisition Holdings LLC, Yucatan Foods, LLC, Camden Fruit Corp. (effective 2023-02-07).

Action: entry
Agreement: asset purchase
Counterparty: Yucatan Acquisition Holdings LLC, Yucatan Foods, LLC, Camden Fruit Corp.
Effective: 2023-02-07

Exact text from the filing

Securities Purchase Agreement, dated February 7, 2023, by and among Lifecore Biomedical, Inc., Yucatan Foods, LLC, Camden Fruit Corp., and Yucatan Acquisition Holdings LLC.

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24 m&a transactions filed in the last 30 days. Browse all m&a transactions →

LIFECORE BIOMEDICAL, INC. DE filing history →

Source: SEC EDGAR

accession 0001005286-23-000037

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