Landec Corporation Extends Strategic Investment in Windset Farms For Five More Years

Landec Corporation (NASDAQ:LNDC) announced that Apio, Inc., Landec’s packaged fresh vegetable subsidiary, and Windset Holdings 2010 Ltd. have agreed to extend their relationship and Apio’s investment in Windset for five more years.
As quoted in the press release:

“We are very excited about continuing our relationship and commitment to Windset,” commented Molly Hemmeter, Landec’s President and CEO. “Windset is one of the most advanced and highest yielding hydroponic greenhouse vegetable producers in North America, where the demand for hydroponic greenhouse grown produce is rapidly increasing. Since Apio’s initial investment six years ago, Windset has significantly grown its business as demand continues to outpace supply. With Windset’s high quality product offerings and continued growth plans, we believe that extending our investment is a wise and prudent use of our capital. Our interest in Windset since the beginning has been motivated by three primary objectives: (1) to realize a significant financial return on our invested capital, (2) to be a strategic partner with the industry leader in sustainable, hydroponic, year-round growing of fruit and vegetables through packaging technologies and sourcing synergies, and (3) to explore new crop targets, new growing techniques and/or new technologies with Windset that could benefit Apio’s business and create potential competitive advantages in the future.”

Click here for the full press release.