![]() ![]() The Californian startups recently inked a deal with Burger King to bring the Impossible Whopper to Burger King outlets across the US. We wish the leadership of Beyond Meat all the best.”īut the announcement clearly did not deter any IPO investors, or aftermarket investor.ĭirect competitor Impossible Foods has been making similar strides in bringing its plant-based meat replacements to market. “Beyond Meat provided an early opportunity for Tyson Ventures to invest in plant-based protein products that many consumers are seeking. “Tyson Ventures is pleased with the investment in Beyond Meat and has decided the time is right to exit its investment,” a Tyson spokesperson told Food Dive in an email. Rumors circulated about the reason for the split with some citing Tyson’s efforts to create its own line of private label alternative protein products as the likely culprit. There were signs of potential trouble for the IPO last week when reports broke that Tyson Foods had ended its investment in Beyond Meat, selling its 6.52% share to an undisclosed buyer. This strategy raised $391 million for the plant-based food company and positioned it for a $12.5 billion acquisition by Danone five years later,” said Good Food Institute executive director Bruce Friedrich. The only known exit of this kind was WhiteWave Foods’ initial public offering in 2012. “The listing is an extremely rare exit strategy in the highly centralized food industry and is almost unheard of in the plant-based food space. The Good Food Institute, which champions plant-based and cell-cultured meat research and development, commended Beyond Meat as a “pioneer of the plant-based meat movement” in a press release circulated via email this morning. Through a distribution deal with Sysco, Beyond Meat has landed its burger on menus at over 11,000 restaurants including TGI Fridays as well. Its products, including the Beyond Burger, the Beyond Sausage and Beyond Beef Crumbles, are available at roughly 30,000 locations according to the company, including several fast food outlets like Carl’s Jr., NYC’s Bareburger, Qdoba and Del Taco. The strong investor demand came despite a history of financial losses at the company, according to a recently amended S-1 filing Beyond Meat posted net revenue of $87.9 million in 2018 and a net loss of $29.9 million.ĭespite the grim financials, the company anticipates that demand for its product will accelerate domestically and abroad as it targets meat-eaters and flexitarians with its plant-based alternatives, taking on the $1.4 trillion global meat industry. They include S2G Ventures, Powerplant Ventures, Bill Gates, Leonardo Dicaprio, and former McDonald’s CEO Don Thompson. Venture investors in Beyond Meat will be keenly watching the stock price for the next 180 days after which they will be able to sell their stakes and calculate their returns. ![]() It was trading around $62 when we posted this update.īeyond Meat had already increased the price range of the deal, which was oversubscribed by 30 times - meaning investors placed orders for 30 times more shares than there were for sale - from $19 to $21 earlier in the week. It later surged 135% in its stock market debut valuing the company as high as $3.52 billion. This raised $240 million for the company and valued it at $1.46 billion. Plant-based protein company Beyond Meat made its debut on the Nasdaq stock exchange today after pricing its initial public offering at the top of the $21 – $25 a share price range it offered investors. UPDATED May 2, 2019: Includes stock market debut. ![]()
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