CES 2020: Impossible Foods to add pork and sausage to menu ahead of possible IPO
LAS VEGAS — Impossible Foods will add pork to its plant-based menu on Monday, and Chief Executive Pat Brown will not stop there.
It isn’t merely following up its Impossible Burger with pork, but continuing to play a vital role in addressing the “two biggest threats to the word: climate change and the meltdown of biodiversity,” Brown said.
D.A. Davidson analyst Brian Holland estimates U.S. restaurant and food service revenue of $1.1 billion for Beyond by 2028, though he acknowledged the threat of Impossible. “Larger players with more resources have entered the fray in short order — thereby impacting Beyond’s first mover advantage time,” Holland wrote in an Oct. 29 note.
“There have been feeble commitments to the environment,” said Brown, who last month attended COP25, the 25th United Nations Climate Change conference in Madrid, to accept an award. Sales of Burger King’s Impossible Whopper helped boost Restaurant Brands International Inc.’s QSR, -2.06% third-quarter revenue 6% to $1.46 billion. Burger King’s sales in the U.S. registered their strongest growth since 2015 in large part because of the product, one of the most successful rollouts in the fast-food chain’s 67-year history, Restaurant Brands International CEO Jose Cil told investors during an October earnings call.
“What makes meat taste like meat is its molecular structure,” Laura Kliman, senior flavor scientist, told MarketWatch. It took more than 50 prototypes to get Impossible Pork right, she said. “We’ve become much smarter with each project.”
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