News coming from San Francisco on July 31st 2019 indicated that Impossible Foods, a startup company had signed a major meat supplier to assist it with the production of its plant-based burgers. The meat supplier being referred to in the news reports was none other than the OSI Group.
OSI Group is a global company known for its role in the production of meat patties used by renowned fast-food chains. Impossible Foods recruited the meat supplier in its bid to make sure that it did not fall behind on its deliveries due to increased demand for its products from restaurants such as Burger King and even regular consumers.
Burger King was among the major fast-food chains in the world to offer the burger in April 2019. It started by stocking it in its fifty-nine stores located in and around St. Louis. At the time, Impossible Foods was yet to launch on a national scale which meant that it would have placed the plant-based burger in more than seven thousand Burger Kings in the country. Read this article at patch.com
This partnership between OSI Group—a leading meat supplier—and Impossible Foods—a vegan burger maker—has come at a very interesting time. It has come at a moment in time when more and more eco-conscious consumers are choosing to feast on plant-based sausages and patties as opposed to the regular burgers.
A senior vice president for Impossible Foods, Mr. Shah stated that the company found itself in unfamiliar territory when it was faced with an imbalance between supply and demand. He went on to note that the company had not anticipated that clients would react in the manner that they did.
Beyond Meat Inc., a rival to Impossible Foods has seen its shares rise by more than 700percent since it officially went public a few months ago. By the end of July, it had forecasted that it expected its revenue would rise by as much as 170% by the end of 2019. OSI Group, which is a privately held company has facilities in 17 countries and has been supplying McDonald’s Corp for more than sixty years.