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Arcadia Biosciences looking to grow a healthier world with GoodWheat and GoodHemp

Published: 23:30 16 Oct 2021 AEDT

Snapshot

  • Arcadia Biosciences kicks off its search for a new CEO
  • Arcadia Biosciences describes expected synergies with its recent CBD-focused acquisitions
Bowls of pasta, grains, bread on a plate with knife

About the company

Arcadia Biosciences Inc is a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients. The company’s GoodWheat branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. It's GoodHemp seed catalog delivers genetically superior hemp seeds, transplants and extracts, applying the company’s proprietary crop innovation technology, ArcaTech, to an emerging crop.

How it is doing

08 Sep 2021

Arcadia Biosciences, Inc said it has launched a national search for a new CEO as the company further expands into the consumer packaged goods (CPG) sector.

Current CEO Matt Plavan will step down from the role once a successor is named, which is expected to occur by the end of the year.

“With a portfolio of plant-based, better-for-you food and wellness products now in place and under development, Arcadia is well-positioned to leverage its innovation-oriented heritage, elevate its brands and further penetrate the consumer health and wellness categories,” Arcadia Biosciences CEO Matt Plavan said in a statement.    

“Having reached this pivotal point, the timing makes sense to begin the process of transitioning to a new leader with deep experience running successful CPG organizations who will be able to build on the company's momentum, accelerate speed-to-market and capitalize on the tremendous growth opportunities ahead,” Plavan added.

17 Aug 2021

Arcadia Biosciences reported a five-fold increase in revenue in its second quarter, mainly thanks to sales from the newly acquired portfolio of wellness brands, as well as its GoodHemp seed sales.

For the three months to June 30, the maker of plant-based health and wellness products reported revenue of $1.4 million, compared to $281,000 in 2Q, 2020.

20 Jul 2021

Arcadia Biosciences, Inc. (NASDAQ:RKDA) has named Laura Pitlik its chief marketing officer, as the company expands its consumer goods platforms following several key acquisitions.

A veteran consumer packaged goods strategist, the company said Pitlik will spearhead brand development and omnichannel marketing activities for Arcadia's portfolio of consumer nutrition, health and wellness brands. She will also lead the company's go-to-market strategies for the e-commerce, retail and food service channels.

What management says

20 May 2021

Arcadia Biosciences Inc (NASDAQ:RKDA) (FRA:17DN) CEO Matt Plavan describes to Proactive why the group recently acquired CBD-focused Lief Holdings, LLC and Live Zola, LLC. Plavan says in addition to bringing in a 'significant amount of recurring revenue' he sees synergies within the two groups, including integrating Arcadia' e-commerce expertise, together with Lief's retail footprint.

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