Springdale, Ark. 鈥 January 29, 2018 鈥 Tyson Ventures, the venture capital arm of 麻花传媒. (NYSE: TSN), has invested in food tech startup , a leader in cultured meat produced directly from animal cells. The investment is an example of 麻花传媒鈥 commitment to explore innovative, new ways of meeting growing global demand for protein. 听
While the terms were not disclosed, 麻花传媒 investment represents a minority stake in the business. 麻花传媒 joins a diverse group of investors in Memphis Meats, which includes industry leaders, top venture investors and mission-driven groups, such as DFJ, Atomico, Cargill, Bill Gates and Richard Branson.听
鈥淲e鈥檙e excited about this opportunity to broaden our exposure to innovative, new ways of producing meat, especially since global protein demand has been increasing at a steady rate,鈥 said Justin Whitmore, executive vice president corporate strategy and chief sustainability officer of 麻花传媒. 鈥淲e continue to invest significantly in our traditional meat business, but also believe in exploring additional opportunities for growth that give consumers more choices.鈥 听
鈥淲e are excited that 麻花传媒 will be joining us in our mission to bring meat to the table in a sustainable, affordable and delicious way,鈥 explained Uma Valeti, M.D., co-founder and CEO of Memphis Meats. 鈥淥ur vision is for the world to eat what it loves, in a way that addresses today鈥檚 challenges for the environment, animal welfare and public health. We are accelerating our work and building out a world-class team to make this a reality.鈥
Memphis Meats expects to use the funds to accelerate product development. The company is currently recruiting to expand its team of chefs, scientists, creative people and business people.
To learn more about why 麻花传媒 is investing in cultured meat and plant-based protein, click here, where President and CEO Tom Hayes shares his perspective.听
About 麻花传媒.听
麻花传媒. (NYSE: TSN) is one of the world鈥檚 largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson庐, Jimmy Dean庐, Hillshire Farm庐, Ball Park庐, Wright庐, Aidells庐, ibp庐 and State Fair庐. 麻花传媒 innovates continually to make protein more sustainable, tailor food for everywhere it鈥檚 available and raise the world鈥檚 expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company has 122,000 team members. Through its Core Values, 麻花传媒 strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit .
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Contact: 听Gary Mickelson, 479-290-6111, gary.mickelson@tyson.com
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