Impossible Foods CFO David Lee on expansion into more US grocery stores

Impossible Foods will soon being selling its plant-based meat in around 1,000 grocery stores in the U.S., CFO David Lee told CNBC’s Jim Cramer on Friday. 

Impossible Foods, which is privately held, first debuted its plant-based meat in grocery stores in September, first in California and then on the East Coast.

“The home chef, just like the restaurateur, enjoys this Impossible Burger because it’s craveable and delicious but it makes you feel better about your health and your impact on the world,” Lee said on “Mad Money.”

The expansion will bring the Impossible Burger into all Safeway stores in Nevada and Northern California, as well as Jewel-Osco stores in the Chicago area and parts of northwest Indiana and eastern Iowa. The company’s presence also is growing at select grocery chains on the East Coast and in Southern California. 

Founded in 2011, Impossible Foods initially was sold at restaurants and other eateries before establishing an in-store presence. 

Lee said the coronavirus pandemic has impacted many of the restaurants with which Impossible Foods partners. “We’re seeing innovation in the face of this crisis,” Lee said, noting some distributors have taken to selling raw Impossible Burgers to consumers at home.

“We’re trying to support both our customers in food service as we move in to being at nearly 1,000 locations in retail and in grocery,” he said. 

A 12-ounce package of Impossible Burger is priced between $8.99 and $9.99 in stores, according to a release from the company. 

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