MushroomRoot™ meat alternative producer Meati Foods announces the retail expansion of its Eat Meati product line to Super Target stores across the United States. This new partnership is a significant milestone in the company’s ambitious retail growth strategy, aiming to increase its presence from 3,000 to 8,000 retail stores by the summer of 2024.
Meati Foods offers a range of chef-seasoned whole cuts, snacks, and nuggets. The company uses its proprietary MushroomRoot™ technology to create products from mycelium that are naturally fibrous and require minimal processing or fillers to create the meaty texture. The company has cited an increased demand for its products and high repurchase rates of up to 60%.
“Meati MushroomRoot™ is unlocking an entirely new eating experience”
President and COO of Meati Foods, Scott Tassani, states, “Achieving a retail footprint of 8,000 stores within our first 18 months in the market is a testament to how Meati Foods delivers what consumers want – whole-food, nutritious, delicious options.”
Last year, Meati Foods opened a new production facility, the Mega Ranch, designed to significantly boost production capabilities. With the aim to become a market leader and a target of $1 billion in run-rate sales by 2025, the company also welcomed new investors and bolstered its leadership to support its growth trajectory. However, later in the year, Meati Foods announced a structural reorganization, which included two rounds of layoffs and the closure of one of its pilot facilities, citing the need for a more sustainable business model. While the Mega Ranch is still in operation, an equivalent of 10% of the company’s staff were laid off.
Meati Foods has already established a presence in other major retailers such as Whole Foods Market, Sprouts Farmers Market, Meijer, The Giant Company, Save Mart, Cub Foods, Lowes Foods, and Fresh Thyme. The company claims that up to 40% of its sales come from first-time animal-free meat consumers, indicating a robust market response. The addition of Super Target, alongside a new agreement to expand in Albertsons markets, propels Meati Foods closer to its goal of wide accessibility across the United States.
New products and future plans
The current product lineup available at select Super Target stores includes MushroomRoot cutlets in Classic or Crispy flavors and MushroomRoot steaks in Classic or Carne Asada flavors. The company is also preparing for the retail launch of three new cuts later this year – Spicy Crispy and Italian Seasoned cutlets and Garlic & Pepper steak – currently only available on Meati’s online marketplace.
“Meati MushroomRoot™ is unlocking an entirely new eating experience that puts health first without compromising on flavor or clean and minimal ingredients, and we are honored to have Target join us on this journey as our newest partner,” concludes Tassani.
