Investors are rushing to get a piece of its privately held rival Impossible Foods before it goes public, according to the Wall Street Journal.
Investors are looking to get a piece of Impossible Foods before it goes public, according to the Wall Street Journal.Impossible Foods CEO Patrick Brown has said that it is not the right time for the company to go public.
In this photo illustration, the new Impossible Whopper sits on a table at a Burger King restaurant on August 8, 2019 in Brooklyn, New York.Investors are rushing to get a piece of privately held Impossible Foods before it goes public, according toBrokers handling transactions in the secondary market told the Journal that investors are jostling to get a piece of the maker of plant-based meats, with some deals that value the company as much as $5 billion.
Beyond's downward slide started July 30 after it announced a secondary offering at $160 a share that added 3.25 million additional shares up for grabs. It closed at $150.99 Thursday.that it is not the right time for the company to go public. Both Impossible and Beyond sell products that look and taste like meat but are actually plant based. Their products are meant to appeal to omnivores who are looking to reduce their meat intake. Both have landed deals with fast-food burger chains, which can introduce plant-based meats to new consumers. For example,In response to growing demand for its meatless meats, Impossible recently struck a deal with OSI Group to boost its production.
Impossible is also planning on launching its products in grocery stores as soon as September after receiving FDA approval for its key ingredient as a color additive. Beyond, which started selling its products first in grocery stores, sees a little more than half of its revenue come from its retail business.
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