Cultured meat company Upside Foods, formerly Memphis Meats, has announced its acquisition of Cultured Decadence.
Based in Madison, Wisconsin, Cultured Decadence is a cultivated seafood company. The start-up – which was founded in 2020 – has developed proprietary cell lines and cell feed for a variety of seafood products, including lobster and other crustaceans.
The deal will expand Upside’s product portfolio and accelerate the commercialisation of a range of cultured seafood products.
Cultured Decadence will remain in Wisconsin as Upside’s Midwest hub, while adopting its new owner’s brand.
The acquisition follows the opening of Upside’s Engineering, Production and Innovation Center (EPIC) in California, which Upside says will be able to produce Cultured Decadence’s product and species portfolio as well as its own.
“Seafood has a rich and delicious culinary tradition that makes it a favourite across the globe. Cultivated seafood also has a tremendous potential to benefit the world,” said Uma Valeti, founder and CEO of Upside Foods.
“Cultured Decadence’s technology is incredibly promising, and their team is filled with passionate, smart individuals who want to make our favourite food a force for good. We’re thrilled to welcome the Cultured Decadence team to the Upside family and are excited that the scientific, technological and production infrastructure we have built over many years can help accelerate the mission impact of this team.”
John Pattison and Ian Johnson, co-founders of Cultured Decadence, added: “We’ve long admired Upside’s innovation and leadership in the cultivated meat industry. Upside’s unparalleled R&D and scale up capabilities will significantly accelerate the commercialisation of cultivated delicious, sustainable and humane seafood.”
© FoodBev Media Ltd 2022
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