California-based Landec Corp. has completed its rebranding and relocation back to Minnesota.
Lifecore Biomedical returns to Minnesota and the public market
The company, now based in Chaska, completed its renaming on Tuesday, the same day it began trading on the public market.
November 15, 2022 at 6:29PM
The company renamed itself Lifecore Biomedical and on Tuesday began trading on the public market under the ticker symbol LFCR. Its stock closed up 5% from Landec's Monday closing price.
Lifecore makes sodium hyaluronate, which has a variety of medical applications including skin care, joint pain and eye health.
Lifecore was previously based in Chaska and publicly traded until it was sold in 2008 to a private equity group. Even while owned by out-of-state interests, Lifecore maintained operations in Chaska, where it is now headquartered again, since 1991.
As a division of Landec, Lifecore reported revenue of $23.7 million, an increase of 8%, for its 2023 fiscal first quarter, which ended Aug. 28.
The company has about 400 employees. It estimates sales for the full year will be between $122 million and $126 million.
The city has reached an agreement to take over the Life Time attached to the Maple Grove Community Center, which is undergoing a $104 million expansion.
