Lifecore Biomedical agrees to Webster Equity Partners buyout, extends Alcon manufacturing deal to 2034

Lifecore Biomedical, Inc. (Nasdaq: LFCR) said on September 28, 2026 that it signed a definitive agreement for Webster Equity Partners to acquire the company. The deal is worth up to $663.7 million if specified performance milestones are fully met.

On September 24, 2026, Lifecore Biomedical, LLC, a subsidiary of Lifecore Biomedical, Inc., signed a Third Amendment to its Amended and Restated Contract Manufacturing Agreement with Alcon Research, LLC, effective November 1, 2026. The amendment moves the end of the agreement's Initial Term from December 31, 2031 to December 31, 2034. After that, the agreement renews automatically in 24-month increments unless either party gives notice. The parties also revised an exhibit that sets Alcon's minimum purchase commitments through 2034 and certain Lifecore supply commitments. Starting November 1, 2026, Lifecore will not sign new agreements to develop, supply or manufacture certain products that compete directly with specified Alcon products. It can still perform under existing agreements and renew them on similar or better terms.

The merger agreement makes the Alcon arrangement a closing condition. Neither party is obligated to complete the merger unless the Amended Alcon Agreements, including the September 24 Amendment No. 3, remain in full force and effect.

An entity affiliated with Webster Equity Partners will pay Lifecore stockholders $6.28 per share in cash at closing. Each share also receives one contingent value right, which cannot be traded. The cash price is about 49.5% above Lifecore's closing price on September 25, 2026, the last full trading day before signing. The companies expect the deal to close at the end of the fourth quarter of 2026, subject to stockholder approval, required regulatory approvals and other closing conditions.