Plant Based Meat & Cheese Association ??????

Still lots of #expowest time to visit so many incredible brands giving consumers great options in plant-based! Who'd we miss!? Tab/send us a great pic/set and we'll be glad to share it out in the coming weeks and keep the momentum going. What a great expo - lots of exciting innovation! Amos Golan Chunk Foods Kathleen S. John Mitchell Konscious Foods Emanuel Storch Blackbird Foods

Lot's of massive PBM ownership/capitalization changes this year: Beyond Meat $1,100,000,000 (yep $1.1 billion) interest free note is due in 2027, with the company continuing to burn cash and be squeezed out by Impossible Foods. Expect BYND early announcements/warnings leading up to the Q4/FY 2024 Feb 26 5pm earnings call. Beyond Meat continues to raise prices/quality of ingredients (without showing evidence consumers are willing to pay for it). Meanwhile, Impossible Foods has been going the low-cost/genetically modified ingredient route. Beyond Meat has had a huge channel pricing disconnect between Retail (Whole Foods @$4 p/patty) and Club ($1.55/patty) MORNINGSTAR FARMS w/Kellanova sale to Mars expected to close in 1st Half 2025 - Mars does not compete in Frozen Meals. Mars reported that Kellanova will be integrated into the Mars Snacking division - leaving Morningstar (and Eggo) in a precarious position and likely looking for a more permanent home(s). Kellogg failed to spin off Moringstar Farms (the PBM U.S. market leader by far) at a time when Beyond Meat's valuation soared to ~2/3 of the entire Kellogg Company. Thoughts?

Way to rock it in plant-based Vegan Food Group!

?? Sometimes added things are worth way more ?? Something "added" you don't understand doesn't mean it's worth less ?? That doesn't mean trust is the default. It's fragile and must be earned

Grade: D- That's the grade we're (generously) giving to the plant-based meat category for delivering on key rituals/traditions like Thanksgiving/Christmas that are so near and dear to our lives that we highly value. You want good grades/results? It's not that hard: Do the homework/assignment. Vegetarian Plus Tofurky Worthington gardein? Greenleaf Foods Quorn Foods

Impossible Foods is putting the ultimate sufficating price squeeze on Beyond Meat Category consumers simply don’t value the “premium” ingredients that Beyond has been aggressively converting over to. Q3 2024 results on Nov 6 will almost certainly show that. Not only is Impossible Foods putting the squeeze on Beyond, but is aggressively leaning into Morningstar Farms territory with new innovation, where Kellogg/Kellanova failed in its (way too late) plans to spin off the brand. ?? Publix Super Markets

Major strategic mistake by Chunk Foods. Foodservice is where they can elevate and maintain their premium positioning and price within the channel. Retail will just result in burning cash and alienating those foodservice operators (i.e. the steak houses/restaurants). Absolutely great product but poor positioning.

This is Pastrami on Rye from @Katz's Deli in NYC made from beef. Why post? Because it's arguably the best and tastiest and that IS the mark. NOT being "cheapest" (it's $28.95/sandwich). ? Slow-cured for ~30 days smoked low and slow, hand-carved, and piled high between Rye. The tangy mustard flavor cuts through the richness of the pastrami (every great business needs great sidekicks). ? It's been serving these same sandwiches since 1888 - not focused on advertising the latest 4.0 burger tech upgrades. You simply can't shortcut greatness in the culinary world - it's doesn't pop out of a machine. ? Big applause to Chunk Foods and Amos Golan carving out (literally) a premium leadership position targeting steakhouses. Konscious Foods as well. These product are exceptional with tightly defined platforms. More brands need to be shooting for these high marks and that serve as positive halos for the entire category. ? There's room for everyone (i.e. Rebellyous Foods doing great things w/max $ efficiency with Nuggets) - but very be very honest upfront on where you are competing in the market or you'll get clocked with 90% of undefined mids all competing for mediocrity.

We want to end the week by highlighting a very important hire by MGP Ingredients - a major supplier of plant proteins (including Proterra? wheat/pea protein). Congratulations to Viswas Ghorpade PhD on his appointment as VP of R&D for Ingredient Solutions at MGP Ingredients! ?? ?? Dr. Ghorpade has had deep experience at the Kellogg Company (owner of Morningstar Farms, Gardenburger, Kashi) with an incredible history of innovation there, with Black Sheep Foods and establishing their Mediterranean protein platform, with Beyond Meat innovation, and now in commercializing opportunities with MGP Ingredients If you are looking at a variety of opportunities in plant-based ingredients to build or enhance your products - MGP Ingredients / Viswas Ghorpade PhD we can vouch (unpaid!) as an excellent place to start!

What say you? Seems more like that big kid that throws rocks at you runs away but is too big/slow to get away and then calls time-out time-out and wants everyone to stop.