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September 05, 2019 - Bloomberg Business

Tyson Embraces Faux Fish by Backing Maker of Plant-Based Shrimp

Tyson Embraces Faux Fish by Backing Maker of Plant-Based Shrimp
Credit: New Wave

Meat giant Tyson Foods Inc.’s venture arm bought a minority stake in New Wave Foods, a maker of plant-based shrimp, the companies announced in a statement Thursday.

The plant-based seafood industry is nascent compared to the imitation meat and dairy categories, but both big companies and rising startups are now feeding the increasingly crowded field. Good Catch makes “tuna” with a blend of proteins from peas, soy, chickpeas, lentils and other beans, while Conagra Brands Inc.’s Gardein sells Golden Fishless Filets. Even trendy Impossible Foods has said it’s working on fishless fish.

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