Planning to expand into a ‘vegan conglomerate’
Written by Carolyn Heneghan. Originally published by fooddive.com
Excerpt: Hampton Creek is attempting to raise about $200 million at a $1.1 billion valuation, people familiar with the matter told Bloomberg. The company plans to use the funds to expand into what Bloomberg calls a “vegan conglomerate,” increasing its portfolio from 64 products today to more than 600 across a wide range of categories, according to a fundraising presentation obtained by Bloomberg. Part of those plans include a 95,000-square-foot R&D facility that will employ robotics and artificial intelligence to discover and develop new plant-based protein products, such as Just Oysters, Just Blue Cheese, and a line of kids’ snacks where an egg substitute in a microwavable pod could be cooked into different shapes, such as Batman, Darth Vader, or a toy car.