An unknown buyer acquired Remaining Curation Foods segment business of Lifecore Biomedical, Inc. for $6.23 million on April 6, 2023. The aggregate value of the transaction is $6.2 million, subject to certain customary post-closing adjustments, consisting of $3.12 million of cash and a $3.12 million seller's note. The seller's note matures on March 31, 2026, and accrues interest at a rate of 12% payable in kind beginning on October 31, 2023, and is prepayable by the buyer at any time. Net proceeds from the transaction will be used to repay borrowings under the Company's credit facilities. The results of operations related to the O Olive Business will be reported as discontinued operations beginning in the fiscal fourth quarter of 2023.

An unknown buyer completed the acquisition of Remaining Curation Foods segment business of Lifecore Biomedical, Inc. on April 6, 2023.