This acquisition is part of Meat-Tech’s growth strategy of optimizing its processes and diversifying its product range to introduce cultured meat technologies to the market as quickly as possible
Meat-Tech 3D, a developer of industrial-scale cultivated meat production technologies based on advanced 3D bioprinting based in Israel, has announced that it has signed a letter of intent to acquire 100% of a leading developer of cultured fat products.
The target company developed a unique, proprietary stem-cell-based technology to produce animal fats, such as those from cattle, chickens or geese, produced in a bioreactor without harming any animals. Meat-Tech expects this acquisition will allow the company to expand its clean meat offerings, accelerate capability development, and shorten times to market.
Subject to the completion of a due diligence process and execution of a final agreement, Meat-Tech will purchase all of the target company’s shares for a total of approximately $17.5 million, in a combination of cash and equity, part of which will be milestone-based.
The company expects the acquisition will open additional market opportunities by leveraging the ability to combine cultured fats with plant proteins, giving plant-based foods a more ’real’ meat flavor and texture. There is a growing expectation for such “hybrid” products, incorporating both plant components and animal cell-based ingredients, to develop into a significant market akin to the current plant-based alternative meat products.
This acquisition is part of Meat-Tech’s growth strategy of optimizing its processes and diversifying its product range to introduce cultured meat technologies to the market as quickly as possible. Through a combination of internal development and acquisitions, Meat-Tech is developing multiple cutting-edge technologies intended to be leased to major food producers globally.
Meat-Tech intends for its technologies to be utilized by value-added food producers to make advanced cultivated meat and related products. This in tandem to minimizing the use of natural resources, improving animal welfare and meeting the growing demand for meat sustainably. The acquisition is subject to due diligence and the execution of a definitive agreement.
