Arcadia Biosciences, a leading producer and promoter of innovative plant-based health and wellness products, has announced a significant development in collaboration with Above Food Corp., an inventive food company renowned for its vertically integrated supply chain delivering unique ingredients and consumer goods. Above Food Corp. will acquire the GoodWheat™ brand from Arcadia for a net sum of $4 million.
Stan Jacot, Arcadia’s president and CEO, regards this as the inception of a promising partnership aimed at expediting the expansion of Arcadia’s wheat intellectual property (IP). He emphasized the alignment between GoodWheat’s profile and Above Food’s commitment to nutrient-rich, plant-based offerings and specialty ingredients. Jacot expressed optimism in Above Food’s vertically integrated approach, emphasizing its potential to facilitate the commercialization of Arcadia’s wheat IP.
The GoodWheat brand, launched in 2018, addresses the growing consumer demand for fiber-rich dietary options by utilizing Arcadia’s patented, non-GMO wheat grain, naturally enriched with higher levels of fiber and protein, sans additives. Since its inception, GoodWheat has introduced a range of products, including pasta, pancake mixes, Quikcakes™, and mac & cheese, catering to health-conscious consumers nationwide, available both in stores and online.
Lionel Kambeitz, CEO of Above Food Corp., underscores the significance of utilizing Arcadia’s non-GMO GoodWheat IP within their grower supply chain to meet the demand for nutritious and quality-focused foods. Kambeitz highlights the pivotal role of high-quality, non-GMO seeds in their field-to-fork supply chain, ensuring the integrity and excellence of the final products.
Lake Street Capital Markets played a pivotal role as the exclusive financial advisor to Arcadia Biosciences in facilitating this transaction, marking a significant milestone in the strategic evolution of both companies.
About Above Food Corp.
Above Food Corp. is a differentiated, regenerative ingredient company that celebrates delicious products made with real nutritious, flavorful ingredients and delivered with transparency. Above Food’s vision is to create a healthier world — one seed, one field, and one bite at a time. With a robust chain of custody of plant proteins, enabled by scaled operations and infrastructure in primary agriculture and processing, Above Food delivers nutritious foods to businesses and consumers with traceability and sustainability. Above Food’s consumer products and brands are available online at abovefood.com and in leading grocers across Canada and the United States
