Landec Announces Plan to Explore Strategic Options for its Curation Foods’ Vegetable Bag and Tray Business as Part of Project SWIFT
Landec Corporation (LNDC)
Last landec corporation earnings: 3/31 04:05 pm
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Source: GlobeNewswire
SANTA MARIA, Calif., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Landec Corporation (Nasdaq: LNDC), a diversified health and wellness company with two operating businesses, Curation Foods, Inc. and Lifecore Biomedical, Inc., announced today that management and the Board of Directors have launched a process to explore strategic alternatives for its legacy vegetable bag and tray business, which includes the potential divestiture of that business. The Company believes that these changes will improve the Company’s operating cost structure, simplify our supply chain, enhance profitability and strengthen its balance sheet with an overall aim to deliver long-term value to shareholders. “We have been evaluating our commoditized vegetable bag and tray business since my appointment as CEO. Our team’s approach to growth and profitability is to focus on leveraging the strength of our higher-margin product and innovation platforms. Consistent with my philosophy of ‘getting smaller to get bigger’, we bel
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