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Landec's CEO Presents At Acquisition Of GreenLine Foods, Inc. Conference (Transcript)

Stocks in this article: LNDC

GreenLine is the largest provider of fresh-trimmed, microwaveable packaged green beans in North America, and manages the process from the field through its online, on time delivery to customers. From its original product focus on fresh-trimmed, microwaveable green beans, the Company has added new product items including wax beans, bean blends, sugar snap peas and French green beans.

When GreenLine’s specialty packaged beans reaches consumers, they are already trimmed and ready to cook, ensuring quick preparation, consistent quality and easy storage. GreenLine’s primary production facilities are located in Bowling Green, Ohio and Hanover, Pennsylvania. Additional production facilities are located in Vero Beach, Florida and Pico Rivera, California with distribution centers in New York and South Carolina.

The addition of GreenLine’s significant footprint on the East Coast and dedicated fleet of privately operated trucks is a strong complement to Apio’s California base of operations. With this investment, we now have two leading brands, Eat Smart and GreenLine in the fresh-cut produce market. Additionally, we have significantly expanded our distribution in retail grocery chains, added new food service customers and acquired strategic East Coast processing and distribution facilities.

With the GreenLine acquisition, Landec’s Apio food business will now have products in approximately 80% of North American retail grocery store sites. These new capabilities will allow Apio to offer enhanced services to our customers with a broader range of products, all with a continued commitment to product quality and food service.

U.S. consumer demand is growing for fresh-cut vegetables including green beans as consumers seek fresh healthy foods conveniently prepared. GreenLine is well positioned to support this growing market with strong sourcing capabilities and a national distribution network to ensure year-round supply of high quality product to its customers. Over time, this expanded distribution will provide greater placement potential for new products and will enable our Apio food business to take advantage of the growth in the fresh-cut green bean category as consumer demand continues to shift away from the purchase of unwashed and untrimmed bulk green beans.

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