Arcadia Biosciences, Inc. (Nasdaq: RKDA), a business in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, has announced the execution of 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.
Together, 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: www.threefarmdaughters.com.
"Three Farm Daughters shares our commitment to healthy, high-quality food ingredients and clean labels," said Matthew Plavan, president and CEO of Arcadia Biosciences. "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."
Arcadia's GoodWheat portfolio of specialty wheat ingredients contain up to 10 times the dietary fiber of traditional wheat, up to 65 percent less allergenic gluten, and nearly 30 percent 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 Mollie Ficocello, president and co-founder of Three Farm Daughters. "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."
Three Farm Daughters will launch its first product—a refined, non-enriched wheat flour for everyday 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 COVID-19 pandemic, with Nielsen reporting consumers spent 126 percent more on flour in March and 105 percent more in April than in 2019.
Arcadia and Three Farm Daughters are expected to execute definitive agreements in due course.