BOULDER, Colo.--(BUSINESS WIRE)--Meati Foods, creator of cutlets and steaks made from the company's proprietary MushroomRoot™, today announced that it has appointed Phil Graves as Chief Financial Officer, effective immediately. Graves will oversee the capital expenditures needed for Meati’s continued omnichannel expansion, leveraging his experience in helping enterprises deliver positive environmental and social impact alongside profit.
“Phil understands how to drive a purpose-driven enterprise that also delivers on profit, and this ingenuity is invaluable for short-term successes and our long-term mission,” said Tyler Huggins, CEO and co-founder of Meati Foods. “As Meati builds on a tremendous inaugural year establishing MushroomRoot as a new, profoundly nutritious and sustainable protein, Phil’s expertise will be a welcome addition to our executive team.”
Throughout his career, Graves has specialized in corporate finance for companies dedicated to having positive impacts on people and the planet while achieving profitability. He joins Meati from Wild Idea Buffalo Co., where he served as the CEO for nearly two years and helped expand the company’s footprint and mission of environmental regeneration and food system sustainability. Previously, he served as the Chief Sustainability Officer and foundation president at Bass Pro Shops; the VP of corporate development at Patagonia and founder of its corporate venture fund, Tin Shed Ventures; and board member for the Center for Responsible Business at the Haas Business School of the University of California, Berkeley.
“Meati’s growth over the past year has been astonishing, but what I find more impressive is their continued commitment to the sustainable development of MushroomRoot as a new food and Meati Foods as a commercial success,” said Graves. “My experience at companies like Patagonia and Wild Idea taught me that prioritizing sustainable practices can boost the financial bottom line, and Meati’s MushroomRoot offers unprecedented innovation opportunities and exciting revenue possibilities. It’s a great opportunity to improve our food system in deep and lasting ways.”
Meati has experienced significant growth over the last year, including closing an oversubscribed Series C raise of over $200 million, and expanding into 3,000 retail locations nationwide, including Whole Foods Market, Meijer, Cub Foods, Sprouts Farmers Market, The Giant Company, Save Mart, Lowes Foods, Fresh Thyme and, most recently, Super Target. The four SKUs in the Eat Meati® retail product line are consistently among the top performers in the animal-free meat category overall and have helped grow the category by as many as 1,200 basis points for early commercial partners.
About Meati Foods
Founded in 2017, Meati Foods is working to maximize the boundless potential of MushroomRoot, a whole food plucked from nature and cultivated with a modernized version of ancient processes that have helped preserve Earth’s ecosystems for millennia. Eat Meati, the debut product line from Meati Foods featuring cutlets and steaks made from MushroomRoot, is available in 50 states and more than 3,600 locations. The products are available at Whole Foods Market, Sprouts Farmers Market, Fresh Thyme, Meijer and Super Target locations across the United States, and the company continues to expand its category leadership through retail and food service partnerships.
