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Blank-check firm bite to take stake in Canadian food company - BNN Bloomberg

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Bite Acquisition Corp., a blank-check company led by a former Merrill Lynch executive, plans to merge with Canadian plant-based food company Above Food Corp.

Food can be seen in this undated photo.

Above Food owns grain terminals and railway infrastructure for moving food commodities and is also a supplier of ingredients, private-label packaged goods and other food products. It has a small lineup of brands including Tuno, a plant-based tuna alternative, and Loma Linda, which sells simple vegetarian meals in packages.

Bite, which focuses on the food and restaurant sectors, closed a $200 million initial public offering in early 2021 during a boom in blank-check offerings. The popularity of such investment vehicles has since soured amid tighter credit and greater scrutiny from regulators, and Bite transferred its listing from the New York Stock Exchange to the NYSE American board earlier this year.

 

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