U.S. meat producers appear to be under siege during the coronavirus pandemic. Several meat packing plants have temporarily closed after large outbreaks among workers, including Tyson Foods (TSN), which suspended operations Wednesday at an Iowa plant that is critical to the nation’s pork supply.
Those plant closures could create an opportunity for meat-alternative companies, such as Impossible Foods and rival, Beyond Meat (BYND).
“There’s no question our opportunity is defined by the meat-eater,” David Lee, Impossible Foods’ CFO, told Yahoo Finance’s “The First Trade.”
Lee says Impossible Foods has not experienced any disruption to its supply chain because of the COVID-19 crisis: “We’ve actually seen through this crisis our restaurants change behavior. Many restaurants can now serve the direct-end customer.”
Lee says restaurants including GroundHouse Killer Burgers in Atlanta and Prairie in San Francisco have pivoted to retail, opening general store websites that allow them to sell the Impossible Burger
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