Economy

Impossible Foods partners with key McDonald's beef supplier to boost production

Impossible Foods partners with key McDonald's beef supplier to boost production”

"It's an exciting time to introduce The Meatless Farm Co to our USA shoppers, as plant-based is without a doubt one of the most innovative categories in retail, and gaining more and more traction with consumers", said Parker Brody, Global Grocery Category Merchant for Whole Foods Market.

The Redwood City, Calif. -based startup has struggled to meet the demand of the plant-based meat. OSI will begin making the Impossible Burger starting next month, adding short-term capacity to Impossible's own Oakland factory. The fast-food chain called the burger the "Impossible Whopper". The 68,000-square-foot plant produced an all-time record volume of product in May 2019, then another record amount of product in June 2019, thanks to increased staffing and operational efficiency improvements. But that still wasn't enough.

The partnership between the vegan burger maker and one of the biggest meat suppliers comes as young, environmentally conscious consumers are feasting on plant-based patties and sausages. USA sales of meat alternatives have grown an average of 8% per year for the last five years, according to Nielsen.

Beyond Meat shares were down 10% at $199 in late morning trade on Nasdaq.

Having launched its products to market in 2018, The Meatless Farm Co already has distribution with retailers across the UK, Europe, Canada and the UAE. "As plant-based alternatives become increasingly mainstream, we're on a mission to educate the world-wide market on the benefits to them and the environment".

"Should no objections be raised, the direct-to-consumer sale of uncooked, red-colored ground beef analogue products containing soy leghemoglobin will be allowed", the FDA said in a statement. The company also plans to sell to groceries by the end of this year.

OSI has 65 facilities in 17 countries and will help produce the company's products globally.

View Markets Insider for more stories. Nearly indistinguishable from meat in terms of taste and texture, Meatless Farm's products are 100% plant-based, gluten-free and made using the highest-quality, non-GMO ingredients available.

Woodside said that was a concern, but OSI is making the Impossible Burger in an area separate from other companies and Impossible retains all intellectual property rights.

When asked if Impossible would be serving McDonald's too, Shah declined to comment on customers, but said: "I see no reason why we shouldn't be able to go anywhere and everywhere". But the company ultimately decided it would be better to have an expert partner.



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