Kroger teams up with Impossible Foods via the Home Chef brand
Impossible has been creating problems for BYND since day one!
Speaking at Kroger's 2022 business update last week, CMO Stuart W. Aitken noted that the Home Chef brand, which Kroger acquired in 2018 for $200m, became a billion-dollar brand in 2021, adding: "We will continue to expand this brand across our family of companies. Our assortment is connecting with the customer through ready-to-eat meals, rotating seasonal programs, new appetizers, as well as our first plant-based protein in partnership with Custom Made Meals and Impossible Foods." Neither party has commented on the scope of the partnership. Still, the announcement was not suitable for Beyond Meat, which has itself developed co-branded frozen meals with online retailer Thrive Market. 'We view this test as a threat to Beyond Meat because it demonstrates the willingness of a big competitor to 'margin down' into co-branded private label products."
MCD Russia
MCD is LONG and does not have significant operations in Russia.
MCD Russia has 847 restaurants, and Ukraine has 108, 84% of the stores in Russia are company-operated, and 100% of the stores in Ukraine are company operated. This represents 2% of systemwide sales, 9% of revenue, and less than 3% of operating income. The stores in those markets, like most international stores, are run by locals and not by Americans.
Restaurant Industry | Divergent Commodity Prices
