Report: Impossible Foods Eyes $10B IPO Valuation

That would dwarf the $1.5 billion Beyond Meat was valued at at its May 2019 initial public offering.

If Impossible Patty Stack
Impossible Foods

Reuters reported Thursday that Impossible Foods is working on an initial public offering that would value that plant-based meat company at around $10 billion.

Citing people familiar with the matter, Reuters said the Redwood City, CA-based company is exploring an IPO in the next 12 months or a merger with a special purpose If Oakland 23Impossible Foodsacquisition company (SPAC), and that it was worked with a financial adviser to help manage talks with SPACs after receive lucrative valuation offers.

The proposed valuation would dwarf the $4 billion that Impossible Foods was valued at in a private funding round in 2020, and dwarf fellow top plant-based meat supplier Beyond Meat's $1.5 billion valuation at its May 2019 IPO.

Reuters cited data from PitchBook showing that Impossible Foods has raised $1.5 billion to-date in private funding.

On April 6, the Good Food Institute and the Plant-Based Foods Association released a report showing that US plant-based retail sales hit $7 billion in 2020, up 27 percent from 2019.

Impossible Foods was founded in 2011, and its products gained mass market distribution during 2020 from 150 stores to more than 20,000.

More in Capital Investment