Mystery buyer emerges for Believer Meats’ North Carolina cultivated meat plant
In North Carolina, an idle cultivated meat production facility built by the now-bankrupt Believer Meats has received buyout interest from an unnamed third party after UPSIDE Foods withdrew a $50-million bid. First reported by AgFunderNews, a letter of intent has been submitted to receiver Kevin Sink. UPSIDE Foods, however, has said it still remains interested, and Gray Construction, which is owed $36 million for work on facility, is also said to be exploring a bid.
If competing offers emerge, Sink plans to hold an auction among qualified bidders. According to the filing, any proposed sale would require a motion to the court and is expected to include an approximately 21-day period for objections and higher bids from interested parties.
Category: Chemicals & Materials
