- Lifecore Biomedical, Inc. 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.
- Webster 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.
Lifecore Biomedical, Inc. 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. The agreement is intended to support Lifecore’s next phase of growth and provide additional resources and expertise, according to the company.
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 CVR per share. The holders of Lifecore’s Series A Preferred Stock will receive a cash payment at closing equal to the applicable “Conversion Amount,” plus one non-tradable CVR per share of common stock into which the preferred stock is convertible. As of June 30, 2026, the Conversion Amount was approximately $50.2 million.
The initial cash consideration represents a premium of approximately 49.5% to Lifecore’s closing share price on September 25, 2026, the last full trading day before the merger agreement was signed. Assuming full achievement of the CVR performance milestones, which could result in $160 million in payments, the aggregate potential merger consideration would be $9.67 per common share or common stock equivalent.
Lifecore President and Chief Executive Officer Paul Josephs said the transaction could provide additional resources and expertise as the company advances programs toward potential commercialization by the end of 2028. He said the agreement followed consideration of a range of alternatives and that the company believes Webster shares its vision for the business.
Matthew Beer, Partner at Webster Equity Partners, said the firm plans to pair its resources and experience with Lifecore’s CDMO expertise and capabilities. He described the transaction as an opportunity to pursue organizational excellence and sustainable profitability.
