Generation Food Rural Partners Launches Bayou Best Foods to Enable Sustainable Seafood Options, Appoints CEO
July 09 2024 - 9:00AM
Big Idea Ventures ("BIV"), a global investment leader within the
food-tech, agri-tech, and materials science sectors, has launched
Bayou Best Foods, Inc. (“Bayou Best” or the “Company”), the eighth
investment out of its Generation Food Rural Partners (“GFRP”)
Fund.
Bayou Best has been launched to commercialize a portfolio of
proven intellectual property that supports a truly sustainable,
animal-free solution to the seafood industry while delivering great
tasting solutions for customers. Bayou Best will have an initial
focus on shrimp with plans to extend into adjacent categories. In
2023, the global shrimp market size was $40.35 billion and is
projected to grow to $74.24 billion by 2032 at a CAGR of 7.09%
during the 2024-2032 period.
“There are significant environmental, human rights, and fraud
issues in the seafood industry. Bayou Best’s products align with
the growing demand for sustainable protein options, driven by
consumer concerns about seafood sustainability and a desire for
animal-free alternatives,” stated Emily Linett, Director of
Strategic Partnerships of the GFRP Fund. “This investment furthers
GFRP’s mission of launching innovative companies while creating
living wage jobs in rural communities.”
The Board of Directors has appointed Ms. Kelli Wilson as CEO of
the Company. Kelli brings over 30 years of experience in the food
manufacturing industry to the Company, including senior roles at
ConAgra and Beyond Meat.
“Bayou Best is positioned to be a leader in animal-free seafood
manufacturing and distribution, with a strong focus on delivering
an eating experience that mimics, in taste and texture, animal
based seafood items,” stated Ms. Wilson. “Our mission is to provide
a product that can replace shrimp in any traditional menu or dish.
Consumers who have seafood allergies or who have decreased their
shrimp consumption due to other health concerns, can confidently
eat Bayou Best seafood and feel good about their choice,” continued
Ms. Wilson. “I am excited and honored to be part of this exciting
launch and look forward to leading Bayou Best as we build the
future of animal-free seafood.”
About Bayou Best Foods, Inc.
Bayou Best Foods, Inc. (“Bayou Best” or the “Company”) utilizes
proven technology to provide a growing range of delicious
plant-based alternatives comparable in taste, texture and
performance to animal-based seafood. Our seafood products are
animal-free, allergy friendly, affordable and accessible to mass
markets — from fast casual to fine dining restaurants. Bayou Best
Foods is dedicated to addressing global food industry and
environmental challenges, as well as supporting economic growth in
underserved areas. For more information, visit
www.bayoubestfoods.com.
About Generation Food Rural Partners
Generation Food Rural Partners (“GFRP” or the “Fund”) is a
RBIC-licensed investment fund designed to drive economic growth and
development in rural communities in the US. The Fund invests in the
area of food, agriculture, and protein technologies to form new
companies based on intellectual property. GFRP is backed by members
of the Farm Credit System, including Farm Credit Services of
America, CoBank, Compeer Financial and Mid-America Farm Credit.
GFRP is a part of Big Idea Ventures (“BIV”), a global investment
leader within the food-tech, agri-tech, and materials science
sectors. For more information, visit
https://bigideaventures.com/generation-food-rural-partners/.
Media Contacts
Bayou Best Foods | Kelli Wilson | kelli@bayoubestfoods.com
Big Idea Ventures | Olivia Chavassieu |
olivia.chavassieu@bigideaventures.com | +33 7 49 63 40 80