USA – American-based producer of fresh-cut fruits and vegetables, Taylor Farms has acquired Curation Food’s fresh packaged salads and vegetables business for US$73.5 million.
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.
“This acquisition will enhance our commitment to assured supply for our customers with the addition of a sixth Taylor Farms source-based production facility, this one located in the fertile Santa Maria Valley,” said Bruce Taylor, Chairman and CEO of Taylor Farms.
Mark Campion, President of Taylor Farms Retail, will have leadership responsibility for the facilities and business integration.
The transaction will enable Landec Corporation – Curation Food’s parent company – to focus on its growing Lifecore Biomedical business.
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.
He further noted that the sale demonstrates ongoing efforts to extract value from non-core assets and re-orient the company around our rapidly growing Lifecore Biomedical business.
“While there’s more work to do, the company is laser-focused on the business and assets that are growing at a greater rate, produce more attractive margins, and have value that is presently underappreciated,” Bolles added.
“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.
Meanwhile, the fresh produce supplier is recalling its Maple Bourbon Chopped Kit (salad) brand from the marketplace due to possible Salmonella contamination.
The recalled product has been sold in British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario and may have been distributed in other provinces and territories.
This recall was triggered by Canadian Food Inspection Agency test results but there have been no reported illnesses associated with the consumption of this product.
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