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Beyond Meat Announces New Revolving Credit Facility
Beyond Meat, Inc. announced that it has entered into a new $150 million five-year secured revolving credit facility to support its future growth initiatives. The new credit facility also includes an accordion feature for up to an additional $200 million.
“Our current cash and liquidity position is strong, and we are pleased to complete this new credit facility on terms that will provide Beyond Meat with a greater amount of financial flexibility and better position the Company for long-term success,” said Mark Nelson, Beyond Meat’s Chief Financial Officer and Treasurer. “We appreciate the support of our lenders as this transaction lowers our cost of capital, is expected to support...
Nature's Fynd Raises $80 Million in Funding to Commercialize New Alternative Proteins
Nature's Fynd, a food tech company producing a protein from a microbe originally discovered in the geothermal springs of Yellowstone's ancient volcano, has raised $80 million in new funding.
The company was previously named Sustainable Bioproducts.
Production began this month at Nature's Fynd's new 35,000-square-foot manufacturing facility on the site of the historic Union Stockyards in Chicago's South Side. The company will commercialize food and beverage products across...
Impossible Foods Confirms Approximately $500 Million in New Funding
Impossible Foods confirmed today that it has secured approximately $500 million in its latest funding round, led by new investor Mirae Asset Global Investments, with participation from existing investors including Khosla Ventures, Horizons Ventures, and Temasek. The industry-leading food-tech startup has raised nearly $1.3 billion since its founding in 2011.
Impossible Foods will use the funds in part to invest in fundamental research and innovation; accelerate its manufacturing scaleup; expand its retail presence and its availability in key international markets; and accelerate commercialization of next-generation products including Impossible Sausage Made From Plants and Impossible Pork Made From Plants.
“With this latest round of fundraising, Impossible Foods has the resources to accelerate growth -- and continue to thrive in a volatile macroeconomic environment, including the current COVID-19 pandemic,” said Impossible Foods’ Chief Financial Officer David Lee.
The new funding closely follows the launch of the company’s latest next-generation products...
Alpha Foods Raises $28 Million in Latest Funding Round, Looks to Expand Brand
Alpha Foods, creators of plant-based burritos, nuggets, pizza, pot pies, tamales, burgers and more announced it raised $28 million in its most recent funding round.
The new capital will support new products, additional hires, expanding its distribution channels in the U.S. and around the globe and boost its marketing and sales efforts.
“As more and more people actively seek out plant-based options, whether for their health or the environment, we are looking to expand our innovations within the category and bring...
Burger King Introduces Burger Made from Cows on Low-Methane Diet
Update: List of Current Plant Closures Due to COVID-19
Grubhub Releases Second Annual State of the Plate Report
Urner Barry's Reporter Summer 2020 Issue Released; Read It Online For Free Now
USDA Announces Initial Purchase of Foot-and-Mouth Disease Vaccine
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