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Texas House Passes Bill to Prohibit Using 'Meat' to Describe Plant-Based Food

Texas House of Representatives passed a bill prohibiting meat alternative food products from using “meat” or “beef” to describe their products.

Beyond Meat loss exceeds forecasts on higher costs, slow restaurant sales

Beyond Meat loss exceeds forecasts on higher costs, slow restaurant sales By Nivedita Balu and Hilary Russ Reuters (Reuters) - Beyond Meat Inc on Thursday reported a wider quarterly loss than expected, as the plant-based meat maker incurred higher freight costs, spent heavily on testing new product launches, and sold less to pandemic-hit restaurants. Shares of the California-based company fell nearly 7% in extended trading. The company, which sells faux meat in over 100,000 outlets worldwide, last year benefited from consumers stockpiling their freezers with bulk packages of its "burgers" during stay-at-home orders across the United States. However, sales to restaurants took a hit as many closed. Chief Executive Officer Ethan Brown said during a call with analysts that he was seeing a "slow thaw" of that trend.

Oatly Plans to IPO Sooner Than Anyone Thought. Here's the Latest

Impossible Foods Targets a $10 Billion Valuation

Impossible Foods Targets a $10 Billion Valuation Posted April 13, 2021 The IPO rumor mill is swirling with news that Impossible Foods could be preparing for a $10 billion IPO. Yes, you read that right — $10 billion. If you aren’t familiar with the company, it develops plant-based substitutes for meat products — similar to recently the IPO'd Beyond Meat (NASDAQ: BYND). You could say that Beyond Meat sort of started the craze for plant-based food alternatives and substitutes for meat products with its IPO. There weren't too many people talking about plant-based alternatives until the news of Beyond Meat’s market debut. Now, most grocery stores have a special (and growing) section for plant-based alternatives.

Impossible Foods mulling IPO at $10 billion valuation

Impossible Foods Is Reported to Be Planning a $10 Billion IPO

Impossible Foods Is Reported to Be Planning a $10 Billion IPO

Impossible Foods is gearing up for the biggest IPO in plant-based history if it can actually pull off plans for an initial stock offering that would be worth $10 billion. The plant-based meat company is eyeing a public listing within the next year according to sources familiar with the company's intentions. Sources told Reuters that Impossible is also contemplating a potential merger with a Special Purpose Acquisition Company or SPAC. The plant-based burger company’s potential price would be significantly higher than the current value of the company which is $4 billion. Within the last year, Impossible Burgers have experienced a surge in popularity, brought in even more investment funding, and enjoyed a number of celebrity endorsements including Jay Zee, Natalie Portman and Serena Williams.

Exclusive: Impossible Foods in talks to list on the stock market - sources

Exclusive: Impossible Foods in talks to list on the stock market - sources By Anirban Sen and Joshua Franklin Reuters (Reuters) - Impossible Foods Inc is preparing for a public listing which could value the U.S. plant-based burger maker at around $10 billion or more, according to people familiar with the matter. This would be substantially more than the $4 billion the company was worth in a private funding round in 2020. It would highlight growing demand for plant-based meat products, driven by environmental and ethical concerns among consumers. Impossible Foods is exploring going public through an initial public offering (IPO) in the next 12 months or a merger with a so-called special purpose acquisition company (SPAC), the sources said.

Impossible Foods in talks to list on the stock market

Plant-Based Retail Food Sales Grow 27 Percent

(NAFB) – New data from the Plant-Based Foods Association and The Good Food Institute shows U.S. retail sales of plant-based foods continued double-digit increases in 2020, rising 27 percent. That brought the total plant-based market value to $7 billion. The plant-based food market grew almost twice as fast as the total U.S. retail food market, which increased 15 percent as COVID-19 closed restaurants and consumers stocked up at the grocery store. Of the total households in the U.S., 57 percent say they purchase plant-based foods, up from 53 percent in 2019. The value of plant-based meat, which is the second-largest plant-based category, hit $1.4 billion in 2020. Sales grew by 45 percent, up from $962 million in 2019.