Do Good Foods
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Do Good Foods was a Bedminster, New Jersey-based sustainable food producer founded by brothers Justin Kamine and Matthew Kamine. It collected unsold produce and proteins from grocery stores and converted what could not be donated to food pantries into nutrient-dense, healthy dry animal feed. In April 2022 it launched Do Good Chicken - the first USDA-verified carbon-reduced chicken and the first verified chicken brand actively combating climate change - sold at ShopRite, Morton Williams, Acme, Safeway and Target. The company received a $169 million investment from Nuveen in 2021 and built a $170 million facility in Pennsylvania.
02 / Do Good Foods FAILURE REASONS
Failure factors supported by the current evidence
Johnstonian News (18 Mar 2024, opened) reported that after a judge allowed California Safe Soil's $300 million trade-secret suit against parent KDC Agribusiness to proceed, KDC said in its liquidation filing that no investors would extend funding under that overhang, so it saw no path forward and liquidated. County recruiter Chris Johnson separately said cash flow and 'financial/investment issues' kept the Selma plant from starting.
The company said a looming $300 million trade-secret judgment after stay relief left no investors willing to extend funding.
Johnston County's industry recruiter said cash flow and financial/investment issues meant Do Good failed to start the Selma plant.
03 / EVENT HISTORY
Events in the structured record
- Asset restructuring
Opened PACER Monitor docket for KDC Agribusiness LLC (D. Del. 1:23-bk-10786): voluntary bankruptcy restructuring petition 16 Jun 2023, jointly administered with Do Good Foods LLC (1:23-bk-10791), Do Good Chicken LLC, Do Good Foods Selma LLC and other Do Good units.
- Liquidation
Same docket shows conversion to liquidation bankruptcy on 30 Nov 2023. Baker City Herald 30 Nov 2023 (opened) reported KDC, which operates the Do Good Foods brand, moved from bankruptcy restructuring to liquidation bankruptcy liquidation after a planned 11 sale did not happen.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Do Good Foods was founded in Bedminster, New Jersey by brothers Justin Kamine and Matthew Kamine to turn grocery surplus into animal feed and food pantry donations; it raised $169 million from Nuveen in 2021 and built a $170 million Pennsylvania facility.
- 02
In April 2022, the company launched Do Good Chicken, the first USDA-verified carbon-reduced chicken, and expanded retail distribution; in early 2023 it was named one of Fast Company's World's Most Innovative Companies.
- 03
In June 2023, the company filed for Chapter 11 bankruptcy in Delaware, planning a sale; a $300 million intellectual-property and trade-secret lawsuit from California Safe Soil LLP threatened its $30 million debtor-in-possession funding, and the lender blocked further draws.
- 04
On November 29, 2023, a Delaware judge approved conversion to Chapter 7 liquidation, ending the company. No reliable loss figure was disclosed, so no loss amount is recorded.