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   Technology StocksImpossible Foods and Beyond


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To: Labrador who wrote (182)6/10/2020 8:24:47 AM
From: Glenn Petersen
   of 213
 
Typically, the charters of SPACs require that the entities consummate a transaction within a designated time period (generally 18 months to two years); otherwise they are required to liquidate. FMCI is only in the letter of intent stage with its potential target. Hence, the need for an extension.

The Company is a blank check company formed in 2018 for the purpose of consummating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. In August 2018, the Company consummated its IPO from which it derived gross proceeds of $200,000,000. Like most blank check companies, our charter provides for the return of the IPO proceeds held in trust to the holders of public shares if there is no qualifying business combination consummated on or before a certain date (in our case, June 10, 2020). Our Board believes that it is in the best interests of the stockholders to continue the Company’s existence until the Extended Date in order to allow the Company more time to complete an initial business combination and is submitting these proposals to the stockholders to vote upon.

sec.gov

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To: Glenn Petersen who wrote (183)6/10/2020 10:55:58 AM
From: Labrador
   of 213
 
thank you for the reply Glenn

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To: Glenn Petersen who wrote (181)6/12/2020 9:49:00 AM
From: rogermci®
   of 213
 
I sold at breakeven this morning. Not the Impossible Foods deal I thought it might be.

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To: rogermci® who wrote (185)6/12/2020 10:07:51 AM
From: Glenn Petersen
   of 213
 
Yeah, not the deal I was hoping for and obviously a short term disappointment to the market. Still, it is a hot space. I will continue to track it on the blank check board.

Message 32783674

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From: Glenn Petersen6/15/2020 9:07:24 AM
1 Recommendation   of 213
 
Burger King adds Impossible Foods’ meatless sausage on its breakfast menu nationwide

Published Mon, Jun 15 20208:16 AM EDT
Updated Moments Ago
Amelia Lucas
CNBC.com

Key Points

-- Burger King is the first national chain to add Impossible Foods’ sausage to a breakfast sandwich.

-- The Impossible Croissan’wich will be available for a limited time at participating locations.

-- The menu addition comes as fast-food chains report lower breakfast sales due to the coronavirus pandemic.



Burger King’s Impossible Croissan’wich
Source: Burger King
-------------

Burger King said Monday it is adding a breakfast sandwich made with meat-free Impossible Sausage to its menu nationwide.

The Restaurant Brands International chain, which began testing the menu item in January, is the first national chain to add Impossible Foods’ sausage to a breakfast sandwich. The Impossible Croissan’wich will be available for a limited time at participating locations. Dunkin’ already sells breakfast sandwiches made with Beyond Meat’s plant-based sausage.

The menu addition comes as fast-food chains report lower breakfast sales due to the coronavirus pandemic. More consumers are working from home — and eating breakfast there. Some restaurants, like Yum Brands’ Taco Bell, temporarily shortened their hours in response to slower demand for the morning meal.

A new menu item made with a meat alternative could spur breakfast sales for Burger King. Nearly a year ago, in response to the craze for plant-based meat alternatives, Burger King added the Impossible Whopper, made with Impossible’s meatless burger, to menus nationwide. The burger lifted traffic and sales for the chain. Earlier this year, Burger King included the meat-free burger in its 2 for $6 promotion in an effort to appeal to more price-sensitive customers.

To promote the new breakfast sandwich, Burger King is giving away up to 100,000 of them through its mobile app with any purchase of at least $1.

Shares of Impossible’s rival Beyond Meat fell 2% in premarket trading amid a broader market sell-off.

Restaurant Brands shares were up 1%.

cnbc.com

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From: Glenn Petersen6/17/2020 8:42:25 AM
   of 213
 
Beyond Meat to sell cheaper value packs of its meatless burgers

Published Wed, Jun 17 20208:23 AM EDT
Amelia Lucas
CNBC.com

Key Points

-- Beyond Meat will sell 10-packs of its meatless burgers.

-- The burger value packs narrow the price gap with traditional beef patties.

-- The coronavirus pandemic has pushed many consumers to buy meat alternatives, with sales soaring 168.5% in the week ended June 6, according to Nielsen data.



Beyond Meat’s Cookout Classic value pack
Beyond Meat
------------------------------

Beyond Meat announced Wednesday that it will sell value packs of its meatless burgers — just in time for summer barbecue season.

The 10-pack has a suggested retail price of $15.99, or $6.40 per pound, bringing it closer to the price of traditional beef. Beef patties were selling for $5.26 per pound this week, according to the U.S. Department of Agriculture’s report on advertised beef prices.


Beyond’s value packs will go on sale the week of June 22 at Walmart, Target and other select retailers across the U.S. But the new offering will only be available until mid-August, or until supplies last.

The coronavirus pandemic has pushed many consumers to buy meat alternatives. More consumers are cooking at home rather than eating at restaurants, and outbreaks have hit the meatpacking industry and hurt production. Sales of fresh meat alternatives soared 168.5% in the week ended June 6 compared to the year-ago period, according to Nielsen data.

Shares of Beyond, which has a market value of $9.46 billion, have doubled their value so far in 2020, as of Tuesday’s close. The stock was up about 3% in premarket trading Wednesday.

cnbc.com

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From: Glenn Petersen6/23/2020 6:47:05 AM
   of 213
 
Starbucks partners with Impossible to sell plant-based breakfast sandwich

Published Tue, Jun 23 20205:00 AM EDT
Alex Harring
CNBC.com

Key Points

-- Starbucks will begin offering a plant-based breakfast sandwich with Impossible sausage beginning Tuesday.

-- The new sandwich joins other menu items, including plant-based milk alternatives, released in recent years as environmentally friendly alternatives to items already sold in stores.

-- Starbucks’ new sandwich came as part of the coffee giant’s push toward a more sustainable menu that to be “resource positive” earlier this year.



Source: Starbucks
----------------------------

Starbucks said Tuesday it will begin selling a plant-based breakfast sandwich made with Impossible sausage as part of its summer menu.

In addition to the plant-based sausage substitute, the sandwich will contain a cage-free fried egg and aged cheddar cheese and will be served on ciabatta bread. The sandwich will be available in most U.S. locations, the company said.

Also on the summer menu are two cold brew coffee-based beverages with almond milk foam flavored with either cinnamon or dark cocoa. In California and the Midwest, Starbucks will also sell Cold Brew with Cinnamon Oatmilk foam, expanding the availability of oatmilk to new markets.

The new sandwich joins other menu options Starbucks has released in recent years as more consumers seek to reduce their meat consumption. The sandwich also helps move Starbucks another step closer to meeting sustainability goals that it announced in January.

“Over the years, in response to customer interest, we have added plant-based milk alternatives such as soy, coconut, almond, and oat milk. We are thrilled to expand our plant-based menu into food with this new breakfast sandwich,” Michael Kobori, chief sustainability officer at Starbucks, said in announcing the sandwich.

Previously, Starbucks partnered with Beyond Meat, a competitor of Impossible, to offer similar plant-based sandwiches in Canada and China.

Starbucks has said it wants to create a more sustainable menu, as it looks to cut carbon emissions, conserve water and reduce waste.

The company didn’t disclose pricing information for the new products.

cnbc.com

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From: Glenn Petersen7/1/2020 1:04:21 AM
   of 213
 
Beyond Meat enters grocery stores in mainland China through Alibaba partnership

Published Tue, Jun 30 20209:00 PM EDT
Updated 3 hours ago
Amelia Lucas
CNBC.com

Key Points

-- Alibaba’s Freshippo grocery stores in Shanghai will start selling Beyond Meat’s meatless burgers on Saturday.

-- The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks.

Beyond Meat announced Tuesday that Alibaba’s Freshippo grocery stores would start selling its meatless burger patties, marking its entry into supermarkets in mainland China.

The maker of meat alternatives first entered mainland China in April through a partnership with Starbucks. Yum China’s KFC, Taco Bell and Pizza Hut also sell Beyond Meat products in several Chinese cities.

Beyond Burgers will be available at 50 Freshippo locations in Shanghai starting Saturday. By September, the patties will also be available at an additional 48 locations in Beijing and Hangzhou.

“We know that retail will be a critical part of our success in China, and we’re pleased to mark this early milestone within a few months of our market entry,” CEO Ethan Brown said in a statement.

Shares of Beyond closed Tuesday up 1.9% at $133.98. The stock, which has a market value of $8.34 billion, has risen 77% so far in 2020.

cnbc.com

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From: Glenn Petersen8/4/2020 8:41:16 PM
   of 213
 
Beyond Meat’s U.S. grocery sales nearly triple, offsetting restaurant losses

PUBLISHED TUE, AUG 4 20204:20 PM EDT
UPDATED 3 HOURS AGO
Amelia Lucas
CNBC.com

KEY POINTS

-- Beyond Meat’s U.S. grocery sales soared 194.9% during the quarter ended June 27.

-- But food service sales slid as restaurants, universities and office buildings temporarily shuttered.

-- The company did not reissue an outlook for 2020, citing the uncertainty surrounding the coronavirus pandemic.

Beyond Meat on Tuesday reported its U.S. grocery sales nearly tripled in the second quarter as more consumers cooked its meatless burgers and sausages at home, but extra costs related to the coronavirus pandemic resulted in a quarterly loss.

Shares of the stock fell as much as 7% in extended trading.

Here’s what the company reported for the quarter ended June 27 :

Net loss per share: 16 cents

Revenue: $113.3 million

Beyond reported a second-quarter net loss of $10.2 million, or 16 cents per share, wider than its net loss of $9.4 million, or 24 cents per share, a year earlier. Excluding costs related to Covid-19 and the early extinguishment of debt, the company lost 2 cents per share.

Analysts surveyed by Refinitiv expected the company to lose 2 cents per share, but it is not clear how that compares to the company’s reported loss.

Beyond spent $5.9 million repackaging its products to be sold at grocery stores, rather than at restaurants, since many are temporarily shuttered.

“We had to make a decision. Did we want to sit and try to weather this, and potentially take a step back in our growth trajectory, or did we want to go very aggressively toward the retail sector even if it curved more expensive doing so?” CEO Ethan Brown said in an interview.

Beyond also spent an additional $1.6 million to donate more than 1 million of its meatless burgers to food banks and frontline workers and $1.5 million on early debt extinguishment costs stemming from its refinanced credit arrangements.

Net sales rose 69% to $113.3 million, topping expectations of $99.7 million, and crossing $100 million in quarterly revenue for the first time.

Its U.S. grocery sales soared 194.9%. In the last two weeks of the quarter, Beyond began selling value packs of its meat-free burgers at Walmart, Target and other retailers, with pricing that was more competitive with traditional beef burgers.

“We had a lot of help from the beef industry itself, because they’ve been experiencing some very high pricing,” Brown said.

“You will see us to continue to push pricing,” he added. “We believe that through the continuing maturity of our supply chain, particularly around the protein costs, a lot more protein supplies are coming in the market as well as the own growth of our own operations in the U.S. and globally.”

While Beyond’s quarterly grocery sales surged, its U.S. food service sales, which include restaurants and universities, plunged 60.7% during the quarter because of the virus’ impact. Brown attributed the decline to smaller restaurant chains and independent establishments, which account for about 58% of its food service sales. Those eateries have struggled to recover, while national fast-food chains have bounced back more quickly.

Outside of the United States, Beyond saw similar trends play out in its grocery and food service divisions. Globally, grocery typically accounts for roughly half of its sales, but that ratio shifted to 88% in the second quarter after Beyond shifted production away from food service.

“If you look at some of the trends, that was the right thing to do, because the consumer continues to look for our products irrespective of whether they’re shopping in food service or in retail,” Brown said. “We had a household penetration rate that increased 40% between January and June.”

About half of Beyond’s customers are now repeat buyers, Brown said.

International sales made up only about 15% of Beyond’s quarterly revenue, but the company is expanding its footprint. It launched in mainland China through a partnership with Starbucks in April and has since entered grocery stores and more restaurant chains there. Brown said that the company is starting to work with smaller Chinese restaurants. In July, Beyond launched in Brazil.

The company did not reissue an outlook for 2020, citing the uncertainty of the pandemic’s duration, magnitude and effects. Beyond pulled its forecast in February.

cnbc.com

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From: Glenn Petersen9/8/2020 8:19:04 AM
   of 213
 
Starbucks adds plant-based items to Asian menus from Beyond Meat, others

PUBLISHED TUE, SEP 8 20206:17 AM EDT
Reuters

KEY POINTS

-- Starbucks said it will add plant-based food and beverages to menus across Asia from September.

-- The menu will include products from Impossible Foods, Oatly and Beyond Meat, as it targets more environment-conscious diners.

-- Starbucks said its new food items will include the Spiced Impossible Puff and Maize Impossible Sandwich in Hong Kong, and Beyond Meat Bolognese Penne in Taiwan.

-- In Singapore, it will launch the Impossible Wrap comprising an Impossible Burger patty, avocado omelette, mushroom, caramelized onion and cheese.
Starbucks said on Tuesday it will add plant-based food and beverages to menus across Asia from September, including products from Impossible Foods, Oatly and Beyond Meat, as it targets more environment-conscious diners.

The Seattle-based coffee chain said it was introducing products in markets such as Hong Kong, Singapore, New Zealand, Taiwan and Thailand that suit local tastes and preferences.

Producing plant-based food and beverages is less demanding on the environment compared with items relying on animal agriculture, which typically needs far more land and water.

Starbucks said its new food items will include the Spiced Impossible Puff and Maize Impossible Sandwich in Hong Kong, and Beyond Meat Bolognese Penne in Taiwan.

In Singapore, it will launch the Impossible Wrap comprising an Impossible Burger patty, avocado omelette, mushroom, caramelized onion and cheese.

Drinks will include the Oatmilk Cocoa Macchiato from Oatly in Malaysia, the Philippines and elsewhere.

Starbucks began offering plant-based meals in Canada in February, and in April said it would do likewise in China. The initiative comes as Impossible Foods, Oatly and Beyond Meat look to expand into Asia.

cnbc.com

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