A plant-based burger company is turning to another healthy alternative for its future financial health: Apple.
Impossible Foods has tapped Steve Turner, Apple’s former global executive creative director, to be its chief experience officer and head up the company’s marketing strategy.
Options are being considered to take Impossible Foods public via IPO or a SPAC merger (special purpose acquisition company) between now and next spring.
According to Reuters sources, Impossible Foods could find value approaching $10 billion or more. It was valued at $4 billion at its last private funding round in March 2020.
Turner, who founded creative consulting firm Sublime in 2017, will report directly to Impossible Foods founder and chief executive Pat Brown.
“Steve stood out for his unusually broad range of experiences across technology, entertainment, sports and health industries, in both the United States and Europe,” Brown said. “I’m positive he will help transform Impossible Foods into the world’s most beloved brand.”
Turner’s bio, now on the Impossible Foods site, reads in part:
“Previously, he spent 10 years at Apple, where he rose to global Executive Creative Director for Apple’s Media Arts Lab and built the global network of seven offices. He worked with Steve Jobs to launch Apple’s unprecedented stream of disruptive new technologies, including iPod+iTunes, Mac, iPhone, iPad, Apple TV and Apple Music.”
The company manufactures soy-based burgers and sausages.
From the site: “Impossible Foods was founded to transform the global food system and reduce the impact of climate change by making the world’s most delicious, nutritious, and sustainable meat, fish, and dairy — from plants.”
Last year, the Impossible Burger debuted in 2,100 Walmart stores and it’s also sold in Kroger, Trader Joe’s and Stop and Shop.