LIFECORE BIOMEDICAL INC DE
For the period ended May 28, 2023. Filed Mar 20, 2024.
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FY2023 · Filed Mar 20, 2024
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Item 2. Properties
As of May 28, 2023, the Company owned or leased the following principle physical properties:
| Location | Business Segment | Ownership | Facilities |
|---|---|---|---|
| Chaska, MN | Lifecore | Owned | 148,200 square feet of office, laboratory and manufacturing space |
| Chaska, MN | Lifecore | Leased | 80,950 square feet of office, manufacturing and warehouse space |
| Santa Maria, CA | Curation Foods | Leased | 36,300 square feet of office and laboratory space |
| Chanhassen, MN | Lifecore | Leased | 21,384 square feet of warehouse and office space |
| Petaluma, CA | Curation Foods | Leased | 18,400 square feet of office and manufacturing space |
In addition to the principal physical properties described above, the Company owns or leases a number of other facilities in various locations in the United States that are used for manufacturing and administration activities. Leases for these leased facilities expire at various dates through the year 2030. All of our owned real property is subject to liens in favor of the lenders under our 2020 credit agreement with BMO Harris Bank N.A. (“BMO”) as administrative agent.
The Company does not anticipate experiencing significant difficulty in retaining occupancy of any of our manufacturing, laboratory, or office facilities through lease renewals prior to expiration or through month-to-month occupancy, or in replacing them with equivalent facilities. We believe our existing facilities, both owned and leased, are in good condition and suitable for the conduct of our business.
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