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07.01.2020 22:38:38

Impossible Foods no longer pursuing McDonalds as a partner: report

Impossible Foods is no longer pursuing a partnership with fast-food giant McDonalds Corp. because it cannot produce enough product, according to a report late Tuesday. Talks between Impossible Foods and McDonalds fell apart with Impossible Foods Chief Executive Pat Brown telling Reuters, "it would be stupid for us to be vying for [McDonalds] right now," and that having "more big customers right now doesn't do us any good until we scale up production." Impossible Foods already supplies its imitation beef patties to Restaurant Brands Inc.'s Burger King for the Impossible Whopper. Impossible Foods, which has already raised nearly $800 million in venture capital, is planning on adding imitation pork products to its line, the company announced at CES.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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