Above Food to merge with Bite Acquisition, go public
By Food in Canada StaffBusiness Operations Ingredients & Additives Plant-based foods Above Food Bite Acquisition
Above Food and Bite Acquisition enter into a definitive business combination agreement, which values the company at a pro forma enterprise value of approximately US$319 million.
Upon closing of the proposed transaction, Above Food will become a public company and is expected to be listed on the NYSE under the new ticker symbol, ABVE.
Above Food is a differentiated, vertically integrated, plant-based ingredient and food company.
“We started Above Food with the intent to drive positive change across the entire food chain. More recently, as food insecurity escalates and the global food supply chains becomes more fragile and subject to disruption, we believe Above Food is well-positioned to ensure communities and consumers around the globe have access to nutritious ingredients that are grown and harvested according to sustainable farming methods,” said Lionel Kambeitz, Above Food chair, president and CEO.
Alberto Ardura, chair and CEO of Bite Acquisition, said, “Our goal was to partner with an industry-leading, differentiated food company with strong fundamentals. We believe we found that combination in Above Food with its novel approach to driving value within the specialty ingredient and consumer products industry, and a highly energized and experienced management with great vision of where this industry is going to transition.”
Print this page