Lifecore Biomedical To Be Taken Private By Webster Equity Partners In Up To $663.7 Mln Deal

(RTTNews) – Lifecore Biomedical, Inc. (LFCR) announced Monday that it has entered into a definitive agreement to be acquired by Webster Equity Partners in a transaction valued at up to $663.7 million, assuming full achievement of certain performance milestones.

Under the terms of the agreement, an entity affiliated with Webster Equity Partners will acquire all outstanding Lifecore common stock for $6.28 per share in cash at closing plus one non-tradable contingent value right (CVR) per share.

The initial cash consideration of $6.28 per share of common stock represents a premium of approximately 49.5% to Lifecore’s closing price on September 25, 2026, the last full trading day prior to signing the merger agreement.

Assuming full CVR performance milestone payments of $160 million, the aggregate potential merger consideration of $9.67 per share of common stock represents a premium of approximately 130.2% to Lifecore’s closing price on September 25, 2026.

The transaction is expected to close at the end of the fourth quarter 2026, subject to the approval of Lifecore’s stockholders, the receipt of required regulatory approvals, and the satisfaction of certain other closing conditions.

The Lifecore Transaction Committee and Lifecore Board of Directors have unanimously approved the merger agreement and recommend that Lifecore stockholders vote their shares to approve the transaction and adopt the merger agreement.

Webster Equity Partners has secured committed financing for the transaction from MidCap Financial Trust, MSD Partners, L.P. and Alcon Research, LLC, and an equity commitment letter from funds advised by Webster Equity Partners.

Upon completion of the transaction, Lifecore’s common stock will be delisted from the Nasdaq stock market. The Company expects to maintain its headquarters in Chaska, Minnesota, and to continue to operate under the Lifecore name and brand following closing.

The merger agreement includes a 30-day “go-shop” period, during which time Lifecore and its advisors may solicit, consider and negotiate alternative acquisition proposals from third parties.