Image Credit:  Green Queen

Every week we track the business, tech and investment trends in CPG, retail, restaurants, agriculture, cooking and health, so you don’t have to. Here are some of this week’s top headlines.

In a significant milestone for the cultivated meat industry, Upside Foods of California and Eat Just have both achieved USDA label approval. Meanwhile, Cava’s recent initial public offering surpassed expectations by raising an impressive $318 million.

In other news, we’ve wrapped the first season of our podcast in partnership with AgFunder: New Food Order, a nuanced investigation into the business of tackling our climate and social crises through food and agriculture. Read all about why we launched the podcast, and be sure to subscribe and share!

Our newsletter takes a lot of time and resources to produce. Make a one time or monthly contribution to help us keep it going. Whether it’s $5 or $500, every bit helps and shows us that you value our work. 

1. Upside Foods, Eat Just Earn USDA Label Approval for Cultivated Meat – Green Queen

California’s Upside Foods earns USDA label approval for its cultivated meat just days after Eat Just earned the same clearance for its cultivated chicken, bringing cell-based meat one step closer to American plates.

2. Cava’s IPO Raises $318M, Higher Than Expectations – Restaurant Dive

Cava’s initial public offering, at $22 per share, surpassed an expected $17 to $19 per share, which could encourage other restaurants pursuing IPOs.

3. AppHarvest’s Largest Farm Faces Foreclosure – Blue Book Services

Equilibrium reportedly is asking the court to auction the greenhouse to satisfy the $66m it is owed.

4. States Accelerate Efforts to Block Chinese Purchases of Agricultural Land – CNN

A growing number of states are considering or have passed measures this legislative term to ban “foreign adversaries” and foreign entities – specifically China – from buying farmland.

5. Launching World’s First Fully Customizable Multivitamin – San Diego Business Journal

The build-to-order, single capsule Floré Multi-V has recently become available to healthcare practitioners through Sun Genomics’ clinical program, Floré Clinical.

6. Thin Margins & Competitive Moats: Analyzing Instant Brands Journey to Bankruptcy – The Spoon

The company is set to receive $132.5m in Chapter 11 financing. Instapots reached saturation quickly and became outcompeted by better-looking products in new categories at equal or lower prices.

7. Climax Foods Debuts ‘World’s First’ Plant Casein – Green Queen

Climax’s scientists have discovered an alternative approach by identifying abundant and naturally occurring plant proteins capable of imparting genuine melt and stretch to plant-based cheeses.

8. Blue Apron Finalizes $50M Deal with Freshrealm – Winsight Grocery Business

With the transaction’s close, the meal kit company is planning more layoffs and has paid off its debt as it moves to an asset-light model focused on profitability.

9. A Forced Reckoning in the Restaurant Industry – New York Times

The James Beard Awards – the Oscars of the food world – are back with a new process to weed out nominees with problematic pasts.

10. Farmers Worry $8.2B Agriculture Deal Will Diminish Competition – WSJ

Consumer advocates say Bunge’s agreement to buy Viterra could drive up prices, while Bunge says the companies don’t overlap.