AFRICA'S NO.1 FOOD, BEVERAGE & MILLING INDUSTRY MAGAZINE

Impossible Foods cuts grocery prices 20% in a new war against animal-derived foods

Feb 8, 2021Feb 8, 2021 Editor

US – American alternative proteins company Impossible Foods is cutting prices by 20% for 17,000 US groceries at a time when its sales are at an all-time high. The price cuts are in an effort to drive more consumers away from animal-derived foods. Impossible Foods plans to keep lowering prices as it achieves new production records and economies of scale. “The ultimate goal is to undercut the price of ground beef from cows,” the company said in a statement. Following the price cuts, Impossible Foods said that it is strongly…

American indoor farming startup, AppHarvest appoints Impossible Foods’ ex-CFO David Lee as President

Jan 8, 2021Jan 8, 2021 Editor

US – AppHarvest, a leading AgTech company building some of the country’s largest indoor farms has appointed ex-chief finance officer (CFO) of Impossible Foods, David Lee as President. According to a statement from the startup, David Lee’s appointment will be effective as from January 25th and he will be reporting to AppHarvest Founder & CEO Jonathan Webb. “In this newly created role, Lee will develop strategy and engage in operations management, leading the sales, marketing and finance functions as AppHarvest continues to grow as a sustainable fresh foods company,”AppHarvest said.…

Companies that attracted major investments in 2020

Jan 4, 2021Jan 4, 2021 Editor

GLOBAL – Amid a turbulent global picture due to the Covid-19 pandemic, companies with promising ideas have continued to attract big investments in 2020. Some raised their huge ticket funding’s from private equity and institutional investors while others tapped into the stock market to raise funds. Food Business Africa takes a look back at some of 2020’s major funding stories that sent shock waves in the food industry. Impossible Foods receives US$500m in Series F funding round As the plant-based market has boomed, the meat alternatives sector has attracted the…

Plant-based alternatives company Impossible Foods to start producing Impossible Milk

Oct 21, 2020Oct 21, 2020 Editor

USA – Impossible Foods, a company known for making plant-based meat designed to taste, cook and look like real meat, has announced plans of producing a plant-based milk alternative called Impossible Milk. According to the company, the milk is not designed to be just another soy milk or nut-based milk alternative, instead, it is designed to function and behave just like the animal-derived cow’s milk. In a demonstration from the company’s food lab, a researcher showed samples of Impossible Milk side by side other plant-based milks like almond milk and…

Coffeehouse chain Starbucks to launch plant-based food and beverages to menus across Asia

Sep 9, 2020Sep 9, 2020 Editor

ASIA – Starbucks Corporation, a multinational chain of coffeehouses and roastery reserves, has announced that it will add plant-based food and beverages to menus across Asia from September, including products from Impossible Foods, Oatly and Beyond Meat Inc, as it targets more environment-conscious diners. The Seattle-based coffee chain said it was introducing products in markets such as Hong Kong, Singapore, New Zealand, Taiwan and Thailand that suit local tastes and preferences. Producing plant-based food and beverages is less demanding on the environment compared with items relying on animal agriculture, which…

Impossible Foods launches direct-to-consumer sales, accelerates retail expansion

Jun 5, 2020Jun 5, 2020 Editor

USA – As demand for online shopping surges and many grocery stores impose quotas on meat, Impossible Foods has launched a new e-commerce platform allowing US consumers to purchase its plant-based burger. The food-tech startup said that the direct-to-consumer channel will offers family-size quantities of the Impossible Burger starting at US$49.99 with compostable, recyclable packaging, free shipping and two-day home delivery. The meat asile producer will offer its plant-based burger in various bundles; “Impossible Convenience Pack” – four 12-oz. packages for US$49.99; “Impossible Combo Pack” – two 12-oz. packages and…

Impossible Foods accelerates retail expansion with The Kroger Co.

May 6, 2020May 6, 2020 Editor

USA – Plant-based meat unicorn, Impossible Foods has partnered with America’s largest grocery retailer, The Kroger Co., to rollout its flagship product at more than 1,700 grocery stores owned by Kroger nationwide. In addition to grocery shelves at Kroger-affiliated brick-and-mortar stores, Impossible Burger will also be available for online ordering through Kroger.com for Kroger Curbside Pickup and Delivery. The rollout of Impossible Burger at Kroger represents a 18-fold increase in Impossible Foods’ retail footprint so far in 2020. The company’s plant-based meat is now on shelves in about 2,700 U.S.…

Impossible Foods raises approximately US$500m in Series F funding round

Mar 16, 2020Mar 16, 2020 Editor

USA – Silicon Valley based foodtech startup, Impossible Foods has raised approximately US$500 million in a Series F funding round by new investor Mirae Asset Global Investments. The finding round also saw the participation from existing investors including Khosla Ventures, Horizons Ventures, and Temasek. In addition to global institutional investors, Impossible Foods’ new and existing individual investors include Jay Brown, Common, Kirk Cousins, Paul George, Peter Jackson, Jay-Z, Mindy Kaling, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am, and Zedd.…

Impossible Foods expands its plant-based offering with new meat free pork and sausage

Jan 8, 2020Jan 8, 2020 Editor

USA – The Silicon Valley-based foodtech start-up, Impossible foods is introducing plant based Impossible Pork and Impossible Sausage, its first all-new products since the launch of Impossible Burger in 2016. According to the start-up, Impossible Pork is a delicious, nutritious, gluten-free, plant-based ground meat and can be used in any recipe that calls for ground pork from pigs. Described as a plant-based meat that delivers everything that matters pork lovers, the Impossible Pork is a gluten and cholesterol free product that contains 16 g protein, 3 mg iron , 13…

Swiss alternative protein start-up Planted Foods secures US$7m in seed funding

Oct 29, 2019Oct 29, 2019 Editor

SWITZERLAND – Planted Foods, an alternative protein start-up has secured US$7 million in seed funding to build production capacity and expand into some European markets. Investors in the funding included Blue Horizon Corporation, Hiltl AG, Good Seed Ventures, Mica Ventures, and Joyance Partners, the ETH Foundation and private investment. Planted Foods was established by was created by co-founders Pascal Bieri, Lukas Böni, Christoph Jenny and Eric Stirnemann in early 2019 with an objective to meet the increasing demand for sustainable protein. Having recognised the ‘urgent need’ for alternatives to meat…