impossible burger impossible foods ceo Pat Brown Impossible Foods CEO Pat Brown holds up an Impossible Burger 2.0, the new and improved version of the company's plant-based vegan burger that tastes like real beef, at a press event during CES 2019 in Las Vegas, Nevada on January 7, 2019. - The updated version can be cooked on a grill and has a better flavor and lowered cholesterol, fat and calories than the original.

Summary List Placement

Impossible Foods spent much of 2020 getting on supermarket shelves. Next, it could land on a major stock exchange.

Reuters reported Thursday that the plant-based meat company is considering offers from SPACs with the help of a financial adviser. Unnamed sources told Reuters that Impossible could realize a valuation of $10 billion, more than double its most recent valuation as a private company.

While working with a SPAC could be a windfall, the sources cautioned that Impossible could still opt to raise money privately instead. They also said a SPAC would dilute the power of Impossible’s current shareholders more than a traditional IPO would. 

Impossible has been an IPO candidate for quite some time. In October, CEO Pat Brown told Insider that an offering was likely, though he declined to provide a timeline. 

Last year, Impossible raised $700 million between two rounds, bringing its total funding to $1.5 billion, according to Pitchbook. Some of that money has gone into developing new products and improving existing ones, including expanding headcount at the company’s R&D division.

Some companies in the broader consumer universe have already gone public this year, including Petco and Poshmark. Plant-based milk brand Oatly, meanwhile, filed confidentially for an IPO in February and plans to go public later in 2021.

Insider asked food-industry experts which food companies were most likely to enter public markets in the next year or so. In addition to Impossible, here are seven other companies that they pointed to:

This story was originally published on January 20, 2021, and updated on April 8, 2021. 

SEE ALSO: Poshmark is going public just as the resale market booms. Here’s how much the company pays data analysts, engineers, product managers, and more

Impossible Foods

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Source:: Business Insider

      

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