REDWOOD CITY, Calif. —Impossible Foods revealed a new economy of scale on March 3 as the meat alternative company continues to push for lower prices and expand its product lineup.
Impossible said there will be a 15 percent price cut for distributors on current US foodservice products. The company currently works with DOT Foods, a distributor throughout the country. DOT then sells the Impossible product to hundreds of other food distributors, like US Foods and Sysco, who deliver it to restaurants and other vendors.
“We are asking our distributors to pass along the price cuts that average around 15 percent to restaurants, particularly to America’s hard-working restaurateurs,” said Dennis Woodside, president of Impossible Foods. “It’s the right thing to do for small business owners, their loyal clientele and the planet.”
This price cut does not affect Impossible Food’s retail product, which is available at about 150 stores, including Gelson’s in Southern California, Wegmans on the East Coast, and Fairway Markets in greater New York City.
The company said that product expansion and price reduction will help the company “compete against ground beef from cows in every way that matters to the consumer,” which includes taste, nutrition, sustainability, convenience and affordability.
“We launched Impossible Burger at America’s top restaurants, and we still enjoy a premium reputation among the world’s best chefs and gourmets,” said Impossible Foods’ CEO Dr. Patrick O. Brown. “But our stated goal since the founding of the company has always been to drive down prices through economies of scale, reach price parity and then undercut the price of conventional ground beef from cows. Today’s price cut is just the latest step toward our goal of eliminating animals in the food system.”
Along with the price cut, Impossible Foods said it is expanding its product lineup to include quarter pound and third pound Impossible Burger patties. The company will continue to sell its 5-lb. bulk package for the Impossible Burger.