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Landec acquires Lifecore Biomedical for $40M plus debt

Landec Corp. said Monday it acquired Lifecore Biomedical Inc. from Warburg Pincus Private Equity IX LP for $40 million in cash and assumed debt of $4 million, along with future possible incentive payments.

Menlo Park, Calif.-based Landec (NASDAQ:LNDC) develops and markets patented polymer products for food, agriculture, personal care and drug delivery applications.

[Minneapolis/St. Paul Business Journal]