Unnamed Buyer Steps Forward for Believer Meats' NC Cultivated Meat Plant

A court-appointed receiver overseeing the assets of defunct cultivated meat company Believer Meats has received a letter of intent from an unnamed qualified buyer for its North Carolina production facility. The potential sale could revive the plant and signal renewed interest in cell-cultured meat infrastructure despite recent industry setbacks.

A court-appointed receiver handling the US assets of defunct cultivated meat company Believer Meats has received a letter of intent from an unnamed qualified third party seeking to buy its production facility in Wilson, North Carolina. AgFunderNews first reported the development after reviewing the court filings. Receiver files second status report Receiver Kevin Sink disclosed the letter in his second status report to the North Carolina Business Court, filed on October 19. According to AgFunderNews, the report also states that Sink has received a draft asset purchase agreement from Gray Construction, one of the site's main creditors, and that other parties continue to show interest in the assets. The identity of the new bidder has not been disclosed. UPSIDE Foods, whose $50 million stalking horse bid set the floor price earlier in the process, terminated that agreement in August after the deal's conditions went unmet, while saying it remained interested in the facility. Gray Construction, which has alleged in court that it is owed $36.4 million for design and construction work on the plant, was reported by AgFunderNews in September to be weighing a combined credit and cash offer, using the debt owed to it to cover part of the purchase price. Assets and next steps Believer Meats, which had raised close to $400 million, ceased operations in December 2025 and was placed into general receivership in February. The assets for sale include the Wilson plant, which drew more than $150 million in construction and equipment investment, along with its bioreactors and other equipment. The company's intellectual property is being sold separately through Israeli trustee Yoel Freilich. If competing offers arrive, Sink intends to run an auction among qualified bidders. He set out the next steps in the filing: "Any proposed acquisition would be the subject of a motion to be filed with this court. The anticipated sale motion would be expected to include an objection and upset bid period of approximately 21 days wherein an interested party could submit an alternative bid."

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