DealsOct 6, 2026, 04:16 PM
Rocky Mountain Chocolate Factory Sells Durango Property for $6.6M
AI Summary
Rocky Mountain Chocolate Factory, Inc. (RMCF) has announced a $6.6 million sale-leaseback agreement for its Durango, Colorado property with American Heritage Legacies, LLC. This entity is controlled by the family of RMCF's Interim CEO, Allen Harper, making it a related-party transaction. The company plans to use the net proceeds to repay $6.6 million in outstanding promissory notes. The agreement includes a 10-year lease with an option to renew, with annual rent starting at $624,000 and increasing by 2% annually. The Durango facility will continue to function as RMCF's corporate headquarters and production/warehouse facility.
Key Highlights
- Rocky Mountain Chocolate Factory (RMCF) entered a $6.6 million sale-leaseback agreement for its Durango property.
- The transaction is with American Heritage Legacies, LLC, controlled by the family of Interim CEO Allen Harper.
- RMCF will use net proceeds to repay $6.6 million in outstanding promissory notes.
- The lease has an initial 10-year term with a 2% annual rent increase, starting at $624,000.
- The property will continue to serve as RMCF's corporate headquarters and production/warehouse facility.
Price Impact
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