US agricultural biotechnology company Arcadia Biosciences has acquired Agrasys, a Spanish food ingredients company that developed a novel cereal grain with agronomic and nutritional advantages.
Based in Barcelona, Agrasys is dedicated to the advancement of value-added crops and food ingredients. The company is focused on the development and commercialisation of its proprietary cereal grain, tritordeum – a combination of durum wheat and wild barley.
The transaction – which was made through Arcadia’s Spanish subsidiary – includes the physical and intellectual property assets of Argrasy, which will enable Arcadia to commercialise the proprietary grain.
Tritordeum is allegedly high in fibre, protein and lutein and is suitable for a wide range of cereal-based applications including bread, crackers, pasta, baked snacks and beer.
Arcadia says the acquisition will broaden its market access in Europe and further enhance its GoodWheat business, which aims to deliver health benefits to consumers.
Agrasys has commercialised tritordeum in ten countries with seven retailers in Europe. Most recently, it launched its tritordeum bread product with Holland grocery retailer Albert Heijn.
“Not only do we see further growth for Tritordeum in Europe, we believe that there is untapped potential for the product in North America and other important cereal markets around the world,” said Matt Plavan, CEO of Arcadia.
“Additionally, the network and capabilities that the Agrasys team have built will serve as an excellent foundation for our GoodWheat products as we expand our commercial footprint.”
Following the acquisition, Arcadia SPA will operate the Tritordeum business, in addition to the GoodWheat business.
Agrasys general manager, Etienne Vassiliadis, said: “I have always believed that the combination of Arcadia’s GoodWheat platform and the unique position that we have developed in Europe for Tritordeum would make a powerful combination.
“As a food scientist and professional baker, I am eager to unlock the many powerful applications and synergies of our respective cereal grains products.”
© FoodBev Media Ltd 2021
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