UPSIDE Foods’ Acquisition of Cultured Decadence

Latham & Watkins represented UPSIDE Foods in transaction.

UPSIDE Foods (formerly Memphis Meats), a leading company in the cultivated meat, poultry, and seafood industry, has announced the acquisition of Cultured Decadence, a Madison, Wisconsin-based cultivated seafood company.

Based in Berkeley, CA, UPSIDE Foods (formerly known as Memphis Meats) is reimagining meat for the 21st century — delicious new sources of meat, fish, and poultry that also address environmental sustainability, animal welfare, and public health concerns. By cultivating meat directly from animal cells, without the need to raise or slaughter animals, the company released the world’s first cultivated meatball in February 2016 and the world’s first cultivated poultry in March 2017. In November 2021 it opened its Engineering, Production, and Innovation Center (EPIC), the most advanced cultivated meat production facility in the world. It aims to bring to the market delicious, real meat that is significantly better for the environment, animals, and public health, while claiming a share of the $1.4 trillion global market for meat. 

Cultured Decadence is a Wisconsin-based cultivated seafood company using cell culture and tissue engineering to create seafood, specifically crustaceans products, directly from cells. The company aims to produce a variety of products to help address the growing demand for nutritious, safe, and sustainable seafood worldwide. 

Latham & Watkins represented UPSIDE Foods in transaction with a deal team led by Bay Area partners Ben Potter (Picture) and Saad Khanani, with Bay Area associates Betsie Stukenborg and Melinda Vanderburg. Advice was also provided on benefits & compensation matters by Bay Area partners Ashley Wagner and Jay Metz; on tax matters by Bay Area partner Grace Lee, with Bay Area associate Derek Gumm; and on intellectual property matters by Bay Area partner Jekkie Kim.

Involved fees earner: Derek Gumm – Latham & Watkins; Saad Khanani – Latham & Watkins; Jekkie Kim – Latham & Watkins; Grace Lee – Latham & Watkins; James Metz – Latham & Watkins; Benjamin Potter – Latham & Watkins; Betsie Stukenborg – Latham & Watkins; Melinda Vanderburg – Latham & Watkins; Ashley Wagner – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: UPSIDE Foods;