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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!
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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.
Cava’s initial public offering, at $22 per share, surpassed an expected $17 to $19 per share, which could encourage other restaurants pursuing IPOs.
Equilibrium reportedly is asking the court to auction the greenhouse to satisfy the $66m it is owed.
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.
The build-to-order, single capsule Floré Multi-V has recently become available to healthcare practitioners through Sun Genomics’ clinical program, Floré Clinical.
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.
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.
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.
The James Beard Awards – the Oscars of the food world – are back with a new process to weed out nominees with problematic pasts.
Consumer advocates say Bunge’s agreement to buy Viterra could drive up prices, while Bunge says the companies don’t overlap.