The ‘largest meat producer’ in America announced today it is investing in a leading clean meat company.
“We’re excited about this opportunity to broaden our exposure to innovative, new ways of producing meat, especially since global protein demand has been increasing at a steady rate. We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices,” said Justin Whitmore, executive vice president corporate strategy and chief sustainability officer of Tyson Foods.
Bruce Friedrich, Executive Director, The Good Food Institute (GFI), told Innovators Magazine that ‘the meat industry itself now sees the writing on the wall.
And Tyson’s move is very much in line with the direction of the travel. It joins meat conglomerate Cargill, which invested in Memphis Meats last year, and leading European poultry producer, PHW-Gruppe, which has made an equity investment in Israeli clean meat firm, SuperMeat,
GFI Director of Corporate Engagement, Alison Rabschnuk added: “No company in the world is better positioned to take clean meat global than Tyson. We are impressed but not at all surprised that the company sees Memphis Meats as a great partner for the Tyson brand.
“With the backing of Tyson, clean meat will be able to come to market more quickly and at closer price parity with conventional meat. We applaud Tyson for being one of the first-movers in this space and expect more companies to get involved as they begin to understand it’s not a question of ‘if’ but ‘when.’”