Upside Foods Withdraws $50M Bid for Believer Meats's Cultivated Meat Facility

Upside Foods Withdraws $50M Bid for Believer Meats's Cultivated Meat Facility

4 Mins Read US startup Upside Foods has withdrawn its $50M offer to purchase the North Carolina facility of defunct cultivated meat firm Believer Meats, although it remains interested in the sale. Eight months after abruptly ceasing operations, the fate of Believer Meats’s 200,000 sq ft cultivated meat factory in North Carolina is no closer to a resolution. The $150M facility had received the green light from the US Department of Agriculture to …

BREAKING: UPSIDE Foods terminates $50m bid for Believer Meats’ US site but "remains interested in the facility"

UPSIDE Foods has dropped its $50 million bid for the US production facility of distressed cultivated meat firm Believer Meats, according to court documents* filed in North Carolina. The North Carolina Business Court approved UPSIDE Foods’ asset purchase agreement as the baseline “stalking horse” bid in June, while BDO Consulting Group marketed the assets for a higher offer. In late July, receiver Kevin Sink asked the court to extend the competin…