Arcadia Biosciences Inc (NASDAQ:RKDA) said on Monday that it has executed a term sheet to form a strategic business venture with Three Farm Daughters LLLP, a majority female-owned North Dakota-based consumer food company, to develop and market food products using Arcadia's patented non-GMO GoodWheat technology.
The Davis, California-based company said that the companies will develop Three Farm Daughters-branded food products such as flours, pastas and crackers that leverage the enhanced nutritional profiles of GoodWheat ingredients. Three Farm Daughters products will be sold in grocery stores, on Amazon and through the company's e-commerce site.
"Three Farm Daughters shares our commitment to healthy, high-quality food ingredients and clean labels," Arcadia Biosciences CEO Matthew Plavan said in a statement.
"We are excited to bring our GoodWheat ingredients to market under the Three Farm Daughters brand and look forward to new and continued innovation to meet growing consumer demand for healthier food options," he added.
According to Arcadia, its GoodWheat portfolio of specialty wheat ingredients contain up to ten times the dietary fiber of traditional wheat, up to 65% less allergenic gluten, and nearly 30% fewer calories per serving than traditional wheat.
"At Three Farm Daughters, we are passionate about healthful food and uncompromising when it comes to quality, taste and performance," said Three Farm Daughters co-founder and president Mollie Ficocello.
"Our family has proudly grown GoodWheat wheat varieties for years, and we know first-hand the difference healthier, quality ingredients make in our diets and lifestyles. And now, we are thrilled to bring our products to the market and help consumers take the guesswork out of healthy eating with our Three Farm Daughters brand," she added.
Three Farm Daughters will launch its first product – a refined, non-enriched wheat flour for baking – in September.
Sales of baking staples such as flour, baking powder, baking soda and yeast have been “at an all-time high” during the coronavirus pandemic, with Nielsen reporting consumers spent 126% more on flour in March and 105% more in April than in 2019.
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