Petaluma, CA – March 2, 2017 – O Olive Oil, Inc., an innovator and industry leader in the development, marketing and selling of California specialty olive oils and wine vinegars, has completed the sale of the Company to Landec Corporation (Nasdaq: LNDC). The highly strategic transaction will enable O Olive Oil to partner with a larger, well-capitalized Company that will invest in broadening and strengthening its product and distribution platforms.
Greg Hinson, President and Founder of O Olive Oil, stated, “This is a significant milestone for the O Olive Oil team. After two decades of carefully crafting our products in a responsible fashion–without chemicals and preservatives–we now have a like-minded partner that can help us grow our distribution, secure supply and bring our award-winning products to more consumers throughout the world.”
In addition, the transaction marks Landec Corporation’s entrée into product segments outside of its core produce segment, in which Landec has a strong presence through its Apio subsidiary (EatSmart® and GreenLine® brands), into one that generates higher gross margins and offers consumers healthy, convenient and delicious products.
Aspect Consumer Partners, LLC, a leading consumer industry-focused M&A, strategic and corporate finance advisory firm, acted as exclusive financial advisor to O Olive Oil in connection with the transaction.