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Plant-based meat giant Impossible Foods is aiming to strengthen its presence in the protein space through a partnership with Equii, a maker of products containing the popular nutrient.
Peter McGuinness, CEO of Impossible What he wrote in his LinkedIn post: There is an opportunity for the company to offer protein products beyond plant-based burgers, hot dogs, chicken and sausages.
The former Chobani president said the licensing deal will allow Impossible to “offer significantly more protein in a way that complements our existing plant-based proteins.”
Equii already sells high-protein products like bread, pasta and baking mixes that Impossible can offer immediately alongside its existing items.
Impossible will partner with Equii to offer products that pair with the plant-based manufacturer’s existing products. McGuinness alluded to meals where plant-based meat products and bread, for example, both provide protein to consumers.
Financial details of the transaction were not disclosed.
“This is a huge step forward for us and other categories as consumers are looking for ways to package protein,” McGuinness said. “We are excited to take on the responsibility.”
Shoppers’ increased intake of protein has prompted food manufacturers to include it in a variety of products, from pasta and cereal to ice cream and snack bars.
The partnership with Equii will make it easier for consumers to enjoy richer, protein-rich meals, potentially giving Impossible an advantage over its competitors.
The Equii deal could also prove valuable to Impossible by revitalizing the plant-based meat sector. Overall struggling.
Economic uncertainty and concerns about the processed nature of plant-based meat have led shoppers to spend less or load their carts with cheaper animal options. Impossible, Beyond Meat, and other plant-based companies have responded in recent years: reduce manpower Reduce costs and align costs with product demand.
Good Food Institute estimates In 2024, plant-based meat and seafood sales fell 7% to $1.2 billion, with unit sales down 11%.
