WITH INCREASING ECONOMIES OF SCALE, IMPOSSIBLE FOODS DELIVERS DOUBLE-DIGIT PRICE REDUCTIONS FOR THE SECOND TIME IN ONE YEAR
Impossible Foods is dropping prices for foodservice distributors in the United States by an average of approximately 15% for the second time in a year.
Demand for Impossible™ Burger is at an all-time high as the leading startup continues to achieve new production records
Impossible Foods is dropping prices for foodservice distributors in the United States by an average of approximately 15% for the second time in a year; company is asking distributors to pass savings to restaurants and consumers
Impossible Foods is extending the price cuts to international distributors starting later this month
To help solve the environmental crisis and make the food system sustainable, Impossible Foods plans to keep lowering prices and ultimately undercut those of animal-derived foods
REDWOOD CITY, Calif. – Thanks to continued production records, Impossible Foods is kicking off the new year by cutting prices on its open-coded products globally for foodservice distributors who sell to restaurants.
Impossible Foods is lowering prices on average by approximately 15% on its open-coded foodservice products in the United States, including its quarter-pound (4 oz) and third-pound (5.33 oz) Impossible Burger patties, versatile 5-pound Impossible Burger bulk packages, and Impossible™ Sausage Made From Plants patties.
Impossible Foods is also lowering prices for distributors in Canada, Singapore, Hong Kong and Macau. The double-digit international price cuts, which vary by location and begin rolling out this month, apply to all Impossible foodservice products sold overseas.
Impossible Foods’ second domestic price cut in the last year comes amid record global demand for Impossible Burger, which tastes like beef(opens in a new tab) and is hailed as a triumph of food engineering(opens in a new tab). Impossible™ Sausage debuted a year ago(opens in a new tab); within six months, the savory patties were available at more than 20,000 locations throughout the United States.
Demand for Impossible products continues to skyrocket -- even as the food tech startup continues to achieve new production records at its manufacturing facility in Oakland, Calif. Production has increased sixfold since 2019, both in Oakland and at multiple plants owned by co-manufacturing partners.
The company’s hypergrowth has profound implications for the environment(opens in a new tab) and enables Impossible Foods to achieve economies of scale(opens in a new tab) -- cost savings that Impossible Foods plans to keep passing along to business owners and consumers.
“Our stated goal(opens in a new tab) since Impossible Foods’ founding has always been to drive down prices through economies of scale, reach price parity and then undercut the price of conventional ground beef from cows(opens in a new tab),” said Impossible Foods CEO and Founder Dr. Patrick O. Brown. “Less than a year ago, we cut foodservice prices by 15%. Today’s price cut is just the latest -- not the last -- step toward making the food system sustainable. Stay tuned.”
To order Impossible Foods’ current U.S. foodservice products, retailers can contact their local distributors or email us at [email protected](opens in a new tab). To find Impossible products at a restaurant near you, click here(opens in a new tab).
Impossible appeal: Pass savings to small business owners and their customers
Similar to Impossible Foods’ initial price cut in March(opens in a new tab), the company is again asking its distributors to pass along the savings to hardworking restaurateurs, who can then lower prices for their customers as well.
Like many food companies, Impossible Foods does not typically own or operate the final point of sale for its products -- grocery stores, restaurants, cafeterias, theme parks and other venues. Instead, Impossible Foods sells most of its foodservice products in the United States directly to redistributor DOT Foods, which operates multiple warehouses; DOT Foods in turns sells to numerous food distributors (such as US Foods, Sysco and many others). Those distributors determine the prices that restaurants pay, and the restaurants in turn determine the final menu price for consumers.
“While we couldn’t and wouldn’t determine pricing for independent third parties, we sincerely hope our food distributor colleagues pass along this price cut to hard-working restaurateurs and their customers in this unprecedented time of need,” said Impossible Foods President Dennis Woodside, who oversees numerous functions including sales. “As unemployment remains stubbornly high and the effects of COVID-19 continue to ravage the economy, it’s imperative to provide affordable, delicious and sustainable food to restaurants and the public.”
Mission matters most
Already considered the world’s No. 1 environmental startup, Impossible Foods’ mission(opens in a new tab) is to help solve the planet’s climate and extinction crises. The company is helping to turn back the clock on global warming(opens in a new tab) and restore biodiversity(opens in a new tab) by making the global food system sustainable.
Impossible Foods’ best known achievement to date, Impossible Burger, tastes like beef(opens in a new tab) and is considered a triumph of food engineering(opens in a new tab) -- the result of nearly a decade of basic science and hard-core research and development. (Some prominent Texas ranchers can’t tell the difference between Impossible Burger and ground beef from cows(opens in a new tab); a beef lobbyist called it the “real deal” and a “wake-up call”(opens in a new tab) for the livestock sector.)
Impossible Burger has already started to displace sales of animal-derived foods(opens in a new tab), whose production is one of the biggest generators of greenhouse gas emissions and the leading driver of the global meltdown in wildlife(opens in a new tab). Impossible Burger has higher levels of many micro-nutrients than ground beef and requires a tiny fraction of the world’s precious resources to produce(opens in a new tab).
Delicious, nutritious, sustainable -- and insanely popular
Impossible Burger debuted in 2016 at some of America’s most acclaimed restaurants. It soon became a popular menu item at the world-class establishments of chefs such as David Chang, Traci Des Jardins, Chris Cosentino, Frédéric Morin, Mark McEwan, Matty Matheson, David Myers, Gordon Ramsay, Wolfgang Puck and May Chow. Impossible Burger was named top plant-based burger by the (opens in a new tab) and received the Food and Beverage (FABI) Award(opens in a new tab) from the National Restaurant Association.
Impossible Burger has as much bioavailable iron and protein as a comparable serving of ground beef from cows, and includes macronutrients like fiber and micronutrients like folate, B12, thiamin and iron. The quarter-pound patty has 0 mg cholesterol, 14 grams of total fat, 8 grams of saturated fat, and 240 calories; the third-pound patty has 0 mg cholesterol, 19 grams of total fat, 11 grams of saturated fat, and 320 calories. (A conventional “80/20” patty from cows has 80 mg cholesterol, 23 grams of total fat, 9 grams of saturated fat, and 290 calories in a quarter-pound patty, and 110 mg cholesterol, 30 grams of total fat, 11 grams of saturated fat, and 390 calories in a third-pound patty.)
Impossible Burger contains no animal hormones or antibiotics and is gluten-free certified. It uses 96% less land, 87% less water and 89% less greenhouse gas emissions to produce compared to conventional beef from cows -- environmental benefits that also translate to economic efficiencies.
About Impossible Foods:
Based in California’s Silicon Valley, Impossible Foods makes delicious, nutritious meat and dairy products from plants — with a much smaller environmental footprint than meat from animals. The privately held company was founded in 2011 by Patrick O. Brown, M.D., Ph.D., Professor Emeritus of Biochemistry at Stanford University and a former Howard Hughes Medical Institute investigator. Investors include Khosla Ventures, Bill Gates, Google Ventures, Horizons Ventures, UBS, Viking Global Investors, Temasek, Sailing Capital, and Open Philanthropy Project.
Press Kit: www.impossiblefoods.com/media(opens in a new tab)
Media Contact: Keely Sulprizio ([email protected](opens in a new tab))