Arcadia Biosciences Announces Sale of GoodWheat to Above Food Corp.
Transaction will accelerate scaling Arcadia’s wheat IP with Above’s vertically integrated, farm-to-fork supply chain
Arcadia Biosciences, Inc.®, a producer and marketer of innovative, plant-based health and wellness products, and Above Food Corp., an innovative food company leveraging its vertically integrated supply chain to deliver differentiated ingredients and consumer products, announced that Above Food will purchase the GoodWheat brand of better-for-you wheat products from Arcadia for $4 million net.
The GoodWheat brand was launched in 2018 to help consumers get more fiber in their diets by increasing the amount of fiber in the foods they love. GoodWheat brand uses Arcadia’s unique, patented, better-for-you non-GMO wheat grain that is naturally higher in fiber and protein with nothing added.
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Arcadia introduced five varieties of GoodWheat pasta in June 2022, followed by six varieties of pancake mixes and single-serve Quikcakes in August 2023. Three varieties of mac & cheese were launched in November of 2023. GoodWheat products are currently available on more than 3,500 shelves nationwide and on Amazon.
Lake Street Capital Markets served as exclusive financial advisor to Arcadia Biosciences in this transaction.
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