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Net News

Tyson Foods invests in plant-based shrimp company

TA-FC CLIPBOARD: This is old news, but I still haven’t seen any place in or around Cleveland claiming to serve this product. It sure looks like shrimp and if it is as promised one might think it would soar. So where’s the ‘soar’ happening?

Doesn’t Tyson Foods know that vegans are suspicious of the ‘natural flavors’ category on labels? Come on. Do better. Make it all plant and tell us the details.

Tyson Foods invests in plant-based shrimp company

PUBLISHED THU, SEP 5 2019 7:00 AM EDT

UPDATED THU, SEP 5 2019 11:36 AM EDT

Amelia Lucas

KEY POINTS After selling its stake in Beyond Meat in the spring, Tyson Foods’ next bet is on plant-based shellfish.

Its venture capital arm is making the investment in New Wave Foods.

The start-up makes plant-based shrimp from seaweed, soy protein and natural flavors.

New Wave Foods’ plant-based shrimp

Source: New Wave Foods

After selling its stake in Beyond Meat in the spring, Tyson Foods’ next bet is on plant-based shellfish.Tyson Ventures, the venture capital arm of the meat processing company, is investing in New Wave Foods. Tyson Ventures CFO Tom Mastrobuoni declined to discuss the financial terms of deal but said that Tyson took a minority stake of less than 20% in New Wave.

The start-up, which was founded in 2015, makes plant-based shrimp from seaweed, soy protein and natural flavors.

“I tasted it for the first time in a cafe in Palo Alto, and I had no idea I was eating plant-based shrimp,” Mastrobuoni said.

After shrimp, New Wave is planning to tackle crab and lobster. Shrimp is the most consumed seafood in the world, according to co-founder and Chief Technology Officer Michelle Wolf.

“From a business perspective, it made sense because of the market opportunity,” Wolf said.

While there are a number of companies tackling plant-based fish like salmon or tuna alternatives, New Wave is one of the few trying to sell crustacean substitutes. Mastrobuoni said that the lack of competition made New Wave a more attractive investment.

Tyson will leverage its scale and network to help accelerate New Wave’s growth.

Source: Tyson Foods invests in plant-based shrimp company

Website for NEW WAVE FOODS https://www.newwavefoods.com/







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Investing Net News

U.S. food distributors allege Tyson Foods, rivals fixed chicken prices

U.S. food distributors allege Tyson Foods, rivals fixed chicken prices

Tom Polansek

CHICAGO (Reuters) – Top U.S. food distributors Sysco Corp and US Foods Holding Corp have joined retailer Winn-Dixie Stores [BILODW.UL] and other poultry buyers suing the country’s biggest chicken processors for allegedly conspiring to inflate prices.

REUTERS/Carlo Allegri

The distributors sued companies including Tyson Foods Inc, Pilgrim’s Pride Corp, Sanderson Farms Inc and Perdue Farms in separate complaints filed in federal court in Illinois on Tuesday.

The U.S. chicken sector, which is dominated by these large meat processors, has come under increased scrutiny in recent years as customers and farmers have alleged antitrust violations relating to pricing, production and compensation.“This is a case about how a group of America’s chicken producers reached illegal agreements and restrained trade,” the lawsuits from Sysco and US Foods said.

Tyson, the biggest U.S. chicken company, and Pilgrim’s Pride denied the allegations on Wednesday. Sanderson Farms said it will defend itself against the claims. Privately held Perdue declined to comment.U.S. poultry buyers previously claimed in a 2016 lawsuit that Tyson and its competitors had colluded since 2008 to reduce output and manipulate prices. Winn-Dixie, which operates grocery stores throughout the southeastern United States, sued the chicken companies earlier this month.“We expect the industry to fight the allegations and come out successful,” Mizuho analyst Jeremy Scott said.

Sysco and US Foods allege processors curbed the supply of chickens by colluding to limit breeder birds that produce flocks that are ultimately slaughtered for meat consumption.

Data provider Agri Stats participated in the conspiracy, according to the lawsuits, by distributing information about chicken production that gave processors insights into rivals’ supplies. Agri Stats, which the complaints say is a subsidiary of Eli Lilly & Co, did not immediately respond to a request for comment…

FINISH READING: U.S. food distributors allege Tyson Foods, rivals fixed chicken prices






 

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Food Processing News Investing Memphis Meats

Tyson Invests in Cultured Meat Maker Memphis Meats

Tyson Invests in Cultured Meat Maker Memphis Meats

By Dave Fusaro, Editor in Chief

Jan 31, 2018

Tyson Ventures, the venture capital arm of Tyson Foods, revealed on Jan. 29 it has invested an unspecified amount in Memphis Meats, one of the startup companies creating “cultured meat,” produced directly from animal cells.

“The investment is an example of Tyson Foods’ commitment to explore innovative, new ways of meeting growing global demand for protein,” the company said in a statement.

While the terms were not disclosed, Tyson Foods investment represents a minority stake in the business. Tyson joins a diverse group of investors in Memphis Meats, including DFJ, Atomico, Cargill, Bill Gates and Richard Branson.“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,” said Justin Whitmore, executive vice president of corporate strategy and chief sustainability officer of Tyson Foods. “We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.”

FINISH READING: Tyson Invests in Cultured Meat Maker Memphis Meats

Cultured Meat Info > http://www.futurefood.org/in-vitro-meat/index_en.php

Memphis Meats > http://www.memphismeats.com/