BRIEF-Landec Corporation announces strategic acquisition of O Olive Oil to expand into adjacent natural food product segment
Pubdate：2017-03-03 10:56
Source：liyanping
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March 2 (Reuters) - Landec Corp (LNDC.O)
* Landec Corp says has entered into a definitive agreement to purchase O Olive Oil Inc ("O Olive") for $2.5 million in
* Landec Corporation announces strategic acquisition of O Olive Oil to expand into adjacent natural food product segment
* Landec Corp says expect business to be accretive in fiscal year 2018
* Landec Corp says for FY 2017, we expect net negative impact to net income of approximately $200,000, primarily from acquisition and integration related costs
* Landec Corp says O Olive will continue to be managed by its existing management team and retain its headquarters and operations at its Petaluma, CA facility
* Landec Corp says O Olive's gross margin for 12 months ended May 2017 is projected to be about 33%; expect to increase margins in upcoming years
* Landec Corp says see an immediate opportunity to significantly increase O Olive revenues in Landec's fiscal year 2018
Source text for Eikon: Further company coverage: (LNDC.O)
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