Cult Food Science Corp., a company focused on lab-grown meat and cellular agriculture, announced plans to acquire The Better Butchers Inc. The Vancouver-based Better Butchers specializes in creating meat alternatives using fungi-based proteins and advanced food technologies.
The deal, outlined in a letter of intent signed on December 10, 2024, will see Cult acquire 100% of The Better Butchers’ shares. Both companies are now working to finalize the agreement, which is expected to close by February 10, 2025, pending due diligence and regulatory approvals.
The Better Butchers is known for producing innovative meat alternatives designed to prioritize both nutrition and flavor. The company uses mycelium-based proteins made from fungi through fermentation to craft products like sausages, burgers and bacon. In addition, they collaborate with other companies to develop hybrid cultivated meats and precision-fermented fats.
The Better Butchers’ products have gained recognition, including their award-winning chorizo, named "Product of the Year" by BC Food & Beverage. The company is also partnering with McMaster University on a four-year project to advance cultivated meat technology.
The company was co-founded by Celeste Trujillo and Cult CEO Mitchell Scott. Trujillo, who holds advanced degrees in food science and human health, has over 15 years of experience developing plant-based alternatives. Her background includes leadership roles at The Very Good Food Co. and Daiya Foods.
What happens next?
Before finalizing the acquisition, both Cult and The Better Butchers will conduct further due diligence. If all conditions are met, the acquisition will move forward, pending approvals from Cult shareholders and the Canadian Securities Exchange.
Cult CEO Mitchell Scott emphasized the importance of the partnership, saying, "The Better Butchers has been at the forefront of developing high-quality meat alternatives. This acquisition aligns with Cult's mission to reshape the global food industry."
The acquisition highlights Cult’s focus on advancing alternative protein technologies to meet the growing demand for sustainable and innovative food solutions.
Further Foods, a subsidiary of Cult Food Science, offers its Noochies! product line to the pet food space.
According to Petfood Industry's Pet Food Product Database, Cult Food Science, based in Vancouver, Canada, is a disruptive food technology platform pioneering the commercialization of lab grown meat and cellular agriculture to reshape the global food industry. Cult’s robust portfolio of investments in cutting-edge, venture-backed cellular agriculture and lab-grown meat companies provides widespread investor access to the future of food. Cult is backed by a team of experts with extensive experience in food technology and launching consumer food products.
Adapted from a press release.
