Rocky Mountain Chocolate Factory Sells Durango HQ for $6.6M in Related-Party Deal
RMCF signs a $6.6M sale-leaseback of its Colorado property with a firm tied to its interim CEO's family.
Rocky Mountain Chocolate Factory (Nasdaq: RMCF) announced Tuesday it has entered into a $6.6 million sale-leaseback agreement covering its Durango, Colorado property, a transaction that carries a notable conflict-of-interest flag for the publicly traded confectioner.
The buyer is American Heritage Legacies, LLC, a local company controlled by the family of Allen Harper, who currently serves as the company's Interim Chief Executive Officer. Because of that ownership link, RMCF has classified the deal as a related-party transaction — a designation that typically triggers heightened board and regulatory scrutiny under securities rules.
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Under a sale-leaseback structure, the seller receives an immediate cash infusion by transferring title to the property while simultaneously securing the right to continue occupying and operating from the same location under a lease agreement. For a company the size of RMCF, a $6.6 million proceeds figure represents a meaningful liquidity event, though the long-term lease obligations incurred will offset balance-sheet gains over time.
Founded in 1981 and branded as "America's Chocolatier,
