Impossible Foods, the US maker of artificial meat, said it was no longer trying to win a coveted deal to supply artificial meat burgers to McDonald’s because its existing capacity could not meet the huge demand that could result from partnering with the world’s largest fast-food chain. Shares of rival Beyond Meat jumped 12.5 percent on Tuesday, boosted by the news.
Pat Brown, chief executive of Impossible Foods, told Reuters in an interview: “It would be foolish if we competed with them now . . . Until we can expand production, it will not be any good for us to have more big customers. ”
Last month, UBS estimated in a report that if McDonald’s launched artificial meat burgers at its nearly 14,000 U.S. stores, it could sell more than 250 million them a year.