FUXIAN LAKE, China: Impossible Foods, a California-based producer of meat substitutes made from plants, is actively working to speed up its entry into China, its number one priority when it comes to overseas markets, the company's chief executive told Reuters.
"China is our highest priority for future expansion, full stop," O'Brown told Reuters on the sidelines of the Fortune Sustainability Forum at Fuxian Lake in southwest China's Yunnan province. Impossible Foods' main rival, Los Angeles-based Beyond Meat , has also yet to make a move into China. The foreign firms will also face competition from domestic companies such as Shenzhen-based Whole Perfect Foods.O'Brown said Impossible Foods eventually aims to move some production into Asia, with the firm already looking at potential sites. He did not elaborate.
"As soon as we have gone through the process and are welcomed into China by the government, and we have partners to work with, we're going to move as fast as we possibly can," he added.
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