Fake meat maker plans real IPO that values company at $1.2 billion

Marco Green
April 24, 2019

"We couldn't be more excited that just in time for the summer BBQ season, Canadians can now enjoy our burgers at home with friends and family, while receiving the added health and environmental benefits of plant-based meat".

The Los Angeles-based company in early January announced it was rolling out its plant-based burger at fast-food chain Carl's Jr. Championing these values are Beyond Meat's roster of investors and ambassadors, including Kyrie Irving, Leonardo DiCaprio, Snoop Dogg, Shaquille O'Neal, Jessica Chastain, Shaun White, Chris Paul, Lindsey Vonn, DeAndre Hopkins, Liza Koshy, Thomas Middleditch, Tony Gonzales, Bill Gates, Jack & Suzy Welch and many more.

The news comes after Beyond Meat filed initial paperwork with United States regulators to take the company public last November.

Still, Beyond Meat is riding a wave of popularity that may help it to grow and weather storms. The company plans to sell 8.8 million shares of stock at a price of somewhere between $19 and $21, which would give the meat alternative leader a valuation of over $1.2 billion.

Valued at over $1.2bn, it is worth roughly.

Although the company's revenues have increased, by 450 per cent in two years to US$88m last year, it continues to lose money and wrote in its prospectus that it, "may be unable to achieve or sustain profitability"'.

For those who haven't yet tasted the fierce flavours of this planty patty: The Beyond Burger is created to look, cook and satisfy like beef, but it's made entirely from plants. Its approach, also taken by rival Impossible Foods, happens to track with current American eating trends.

The company caught the eye of Tyson Foods, one of the largest livestock producers in the U.S., who invested in Beyond Meat in 2016.

Other reports by Click Lancashire

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