Tyson Foods latest investor in clean meat start-up Memphis Meats

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Tyson Foods, the nation's largest meat producer, has invested in Bay Area clean meat startup, Memphis Meats.

CEO of Memphis Meats Uma Valeti said of the investment from Tyson Foods, "we are excited that Tyson Foods will be joining us in our mission to bring meat to the table in a sustainable, affordable and delicious way". Though the terms of the investment are not now disclosed, with this investment, Tyson Foods joins the ranks of DFJ, Atomic, Cargill, Bill Gates, and Richard Branson, all of whom have already invested in the startup, reflecting a shift toward innovative solutions to meeting an ever-growing global protein demand. "We are impressed but not at all surprised that the company sees Memphis Meats as a great partner for the Tyson brand", said Alison Rabschnuk, Director of Corporate Engagement at the Good Food Institute. Last August, Cargill invested an undisclosed sum as part of a $17 million round of financing for the company.

Tyson Foods, which supplies about one in five pounds of chicken, beef and pork produced in the US, announced Monday that their venture capital arm had purchased a minority stake in Memphis Meats, a San Francisco-based "clean" meat startup.

"If these and other projections for the product pan out, cultured meat could be appearing in grocery store displays next to the real deal and in restaurants serving unique protein sources", she writes.

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He added: "We continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices".

The meat substitutes market will be worth almost $6 billion by 2022, according to research firm Markets and Markets.

Tyson is not alone in its excitement to move forward with Memphis Meats.


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