Impossible Foods is preparing to go public, amid growing demand for plant-based meat alternatives.
Impossible Foods is one of the premier makers of plant-based meat, and has struck deals with major restaurant chains and grocery stores. Most notably, Burger King has the Impossible Whopper, using the company’s product.
According to Reuters, sources have said Impossible Foods is preparing to go public, with a valuation of $10 billion. This is significantly more than the $4 billion the company was valued at in 2020, indicating the increased demand.
The company is exploring an initial public offering (IPO), as well as a merger with a special purpose acquisition company (SPAC). Merging with a SPAC is popular way for a company to go public without as much regulatory scrutiny. It also provides a greater degree of certainty over the valuation process.
Impossible Foods did not return Reuters request for comment.