Tyson is investing in
Memphis Meats, but isn’t saying how much.
Cargill invested in Memphis
Meats earlier, also not revealing how much it contributed towards the $17
million raised in that round of funding for the company that has yet to put any
products on the market.
Two years ago Tyson bought a
five per cent stake in Beyond Meat.
Memphis Meats is researching
ways to multiply animal cells and form them into products. Beyond Meat makes
meat-like products from plants.
This week Maple Leaf Foods
Inc. announced it has finalized its deal to buy Field Roast Grain Meat Co. for
$120 million.
Last year it bought
Lightlife Foods, another company making meat-like products from plants.
Maple Leaf says it is “now positioned
as a leader in the U.S. retail market for plant-based proteins.”
Plant-based “meats” are much cheaper to make than
Memphis Meats' approach which so far is costing about $35,000 a pound.
