Arcadia Biosciences, Inc. will bring its GoodWheat portfolio of specialty wheat ingredients to China and Israel through a collaboration with Corner Foods, Arcadia Biosciences said on Thursday, August 6. The GoodWheat ingredients offer benefits such as high fiber content, improved protein quality and reduced levels of gluten.
“This collaboration with Corner Foods has the potential to open key international markets for products made with our GoodWheat ingredients,” says Matthew Plavan, president and chief executive officer of Arcadia Biosciences. “We expect strong demand for healthy, ready-made products such as pastas and specialty baking mixes, and we have allocated significant GoodWheat inventories to support this growth initiative and leverage the international network of Corner Foods.”
Through Corner Foods, Arcadia’s GoodWheat ingredient-based food products will be introduced directly to consumers in China through the e-commerce site TMall and the cooking and lifestyle network Tastemade China. Together, the digital platforms reach an estimated eight million consumers in China per month.
“Tastemade is known for beautiful and engaging food, travel and lifestyle content that lets users explore cuisine from around the world through a mix of original content and user-submitted videos,” says Wayne Chen, chief executive officer of Tastemade China. “We are excited to partner with Corner Foods to introduce viewers to Arcadia’s impressive portfolio of good-for-you wheat flours, pastas and baking mixes this fall.”
Arcadia and Corner Foods also plan to introduce GoodWheat into retail and foodservice markets in Israel, which is home to more than 50 agriculture and food technology startups. Annual investment in Israel’s food tech sector rose to $100 million in 2018, according to a report by Start Up Nation Central.
Arcadia Biosciences takes science-based approaches to enhance the quality and nutritional value of crops and food ingredients. Bay State Milling Co. is the exclusive commercial partner for Arcadia’s high fiber wheat in North America under Bay State’s HealthSense brand portfolio.
Corner Foods, an affiliate of Corner Capital Group, focuses exclusively on providing products to retail and institutional customers in the consumer-packaged goods, health care and pet verticals, primarily in Asia and Israel.
Arcadia and Corner Foods executed a term sheet for the collaboration, and they expect to execute definitive agreements in due course.