Impossible Foods had an 85% spike in quarterly retail revenue
Long-rumored IPO candidate Impossible Foods Inc. on Wednesday laid out some key financial parameters, including an 85% spike in quarterly retail revenue year-over-year, according to data from market research and analytics company IRI. The plant-based meat company -- which closed a $500 million funding round in November, raising total funding to more than $2 billion -- has significantly boosted its retail presence to more than 20,000 grocery stores and supermarkets, and in food service to about 40,000 restaurants. The Impossible cheeseburger ranked as the most-popular order, in terms of percentage increase, according to a GrubHub Inc. poll this year. "Our sales are continuing at a tremendous rate, with a tripling of household penetration in one year and a significant increase in both volume and velocity in retail stores," Impossible Foods President Dennis Woodside said.
(END) Dow Jones Newswires
December 08, 2021 11:46 ET (16:46 GMT)
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