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Globally Local is to become the world’s first vegan fast-food chain to go public.
The company, which aims to have 20 locations across North America by 2022, will debut on the Toronto Stock Exchange’s Venture Exchange tomorrow.
Vegan fast-food chain
Founded in 2016, Globally Local serves a range of American favorites such as burgers, chicken, salad, wraps, desserts, and shakes.
It also produces its own proteins and dairy alternatives, to achieve price parity with its non-vegan fast-food competitors.
Globally Local says this helps ‘eliminate the perception that vegan food is expensive’.
Globally Local goes public
James McInnes is the co-founder, CEO, and one of the lead scientists at Globally Local. In a statement sent to PBN, he said: “Our team has spent five years developing an advanced fast-food restaurant concept and vertically integrated supply chain which, combined together, will revolutionize the fast-food industry.
“Our smart kitchens will soon be deploying proprietary automation technology that will not only enhance our efficiency… But also make us more affordable than traditional fast food, ultimately allowing us to create change through a better economic model.”
Plant-based meat brand Impossible Foods is also considering a public listing, according to reports.
Moreover, sources familiar with the matter told Reuters the brand is eyeing an IPO valued at a staggering $10 billion.
Plant Based News contacted Impossible Foods for comment. A spokesperson for the company said: “We have no comment about such speculation at this time.”