Arcadia Biosciences, Inc. (RKDA) this month completed acquisition of Industrial Seed Innovations (ISI), an Oregon-based provider of high CDB feminized industrial hemp cultivars. RKDA is a leading agricultural biotechnology company headquartered in Davis, California that focuses on the development of science-based approaches to enhance crop quality and productivity.
The acquisition will bring in portfolio of hemp varieties for Arcadia which are performing well and are also federally compliant. This will strengthen Arcadia commercial brand GooDHemp, a product line of genetically superior hemp seeds, transplants, flower and extracts.
ISI’s popular seed varieties of Umpqua and Rogue will be value addition to the GoodHemp’s catalog. Those will further differentiate Arcadia’s product line by adding varieties with a high demand and unique characteristics.
ISI’s smokable and extraction market player Umpqua is a high yielding and CBD dominant cultivar. It matures earlier than most of the existing varieties which makes it more suitable and attractive for northern latitudes.
On the other hand, ISI’s Rogue is a CBD rich variety designed to mature late season. This results in an extended growing season making it attractive for lower latitudes being ultra-high yielding plant.
Arcadia was intending accelerating the commercialization of its breeding platform around hemp. It was also in planning establishing a R&D development facility for it in the key hemp production area of Pacific Northwest. The current deal will further strengthen Arcadia’s those plans.
Arcadia to serve existing ISI customers has formed a five-member multigenerational team of regional GoodHemp sales agronomists. Mark Russell, an agricultural inputs sales veteran, will lead Arcadia’s team of crop specialists. The team will also provide services to Arcadia’s growing number of elite hemp cultivators and will expand its seed offering network to other territories. The territories in focus will also include Arizona, Texas, Florida, Mississippi and Minnesota which get USDA approval for their hemp plans.