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Apio, Inc. Acquires GreenLine Foods, Inc.— One Company. Two Great Brands

04.22.2012

GUADALUPE, CA —  Apio, Inc., a wholly owned subsidiary of Landec Corporation (Nasdaq: LNDC) and a leading producer of fresh-cut vegetable products, today announced the acquisition of GreenLine Foods, Inc. from The Riverside Company, a global private equity firm.  GreenLine Foods is the leading processor and marketer of value-added, fresh-cut green beans in North America.  US consumer demand for the convenience of fresh-cut green beans that have been pre-washed, trimmed and are ready-to-cook is growing.  Greenline is well prepared 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.

GreenLine’s primary production facilities are located in Bowling Green, OH and Hanover, PA.  Additional production facilities are located in Vero Beach, FL and Pico Rivera, CA 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 owned trucks is a strong complement to Apio’s California base of operations.

With this acquisition, Apio, Inc. is now able to offer its customers the best of fresh-cut vegetables: the GreenLine brand of value-added green bean products and the Eat Smart brand of value-added bag and tray vegetables.  These products, as well as future innovations, will be offered to customers with the continued high quality, service, and year-round reliability that has been the cornerstone for the enduring success of these two brands.

“It is unique to find two companies so well suited for each other,” said Ron Midyett, CEO of Apio.  “The GreenLine team brings deep operational, sourcing and transportation expertise, as well as solid industry relationships.  They have built a strong brand through their commitment to high quality products and customer service.  Apio is pleased to expand our offering to include a wide range of products from two leading brands.  We are committed to maintaining the high levels of quality and service that our customers have come to expect from both organizations.”

“GreenLine is excited to become a part of the Apio family,” said Jeff Rettig, Sr. VP of Operations at GreenLine. “Apio’s industry leadership, strong new product innovation capabilities and investment in packaging technologies will create new opportunities for growth for the GreenLine brand.  The GreenLine team looks forward to the exciting benefits that this union can bring to our customers.”

This acquisition will offer immediate benefits of strengthened category management for both GreenLine and Eat Smart customers.  In time, Apio will be working toward creating the benefits of single order entry and streamlined transportation options.  In the meantime, Apio remains focused on its dedication to product quality and customer service, innovative new products and advanced packaging technologies.  

Please visit Apio at The United Fresh Produce Show in Dallas from May 1-3 at Booth #10311 for more information on our company and our brands.

About Apio, Inc.

Apio, Inc., founded in 1979 by five growers of celery in the Santa Maria Valley in the central coastal region of California  has grown to become the leader in processing and marketing fresh-cut specialty packaged vegetables in the U.S. Headquartered in Guadalupe, California, Apio sells its specialty packaged vegetables in convenient bag and tray formats under the Eat Smart® brand. Apio’s fresh-cut specialty packaged vegetable products are unique in that they utilize the Landec Corporation BreatheWay® proprietary breathable packaging technology to extend the shelf life of specific produce. Landec Corporation, based in Menlo Park, CA, is a materials science company leveraging its proprietary polymer technologies for developing and commercializing new products in food, agricultural, biomedical and industrial markets. Landec acquired Apio in 1999. For more information about Apio visit Apio’s website at www.ApioInc.com.

About GreenLine Foods, Inc.

GreenLine Foods processes and distributes fresh trimmed green beans to retailers, wholesalers and distributors across the country. The company is the largest provider of fresh-trimmed, microwaveable packaged green beans in North America and manages the process from planting hybrid seeds through on-time delivery to customers. From its original product focus on fresh-trimmed microwaveable green beans, the company has added new produce items, including wax beans, bean blends, sugar snap peas, snow peas and French green beans. GreenLine’s process retains product quality, extends shelf life and reduces product spoilage. When GreenLine beans reach customers’ kitchens, they're washed, trimmed and ready to cook, ensuring quick preparation, consistent quality and easy storage that outlasts traditional bulk product. The company is headquartered in Perrysburg, Ohio. For more information, please visit www.GreenLineFoods.com.

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