US sources report that Impossible Foods, maker of the plant-based Impossible Burger, is considering a stock market listing that would take place in the next 12 months.
10 billion dollars
According to CNBC, Impossible Foods is exploring the possibility of going public in the next 12 months through an IPO or through a merger with a so-called special purpose acquisition company (SPAC). The valuation of the US meat substitute company could reach around 10 billion dollars (8.4 billion euros). During a previous private financing round in 2020, Impossible Foods was still valued at 'only' 4 billion dollars (3.4 billion euros). This underlines once again the growing demand for vegetable meat alternatives.
A SPAC is a company with no commercial activities, set up solely to raise capital through an initial public offering to acquire an existing company. Merging with a SPAC has become a popular IPO alternative for companies looking to go public with less regulatory oversight and more certainty about the valuation that will be achieved and the funds that will be raised.
Impossible Foods, whose backers include venture capitalists Khosla Ventures and Horizons Ventures and celebrities such as tennis star Serena Williams, rapper Jay-Z and singer Katy Perry, has raised 1.5 billion dollars (1.26 billion euros) in several rounds so far on the private market. The company was founded in 2011 and, in addition to sales through food shops, has also made deals with Burger King and Disney.
A spokeswoman for Impossible Foods declined to comment on the possible IPO. However, the rumours about it are not new: already in 2019, there was a lot of speculation about it.