The OSI Group is a company that was founded in 1909, based out of Chicago. The OSI Group is a private owned company that specializes in meat processing. They serve the retail and food service industries nationally and internationally. They currently operate more than 65 facilities in 17 countries. In 1909, the company founder Otto Kolschowsky opened a family meat market in the outskirts of Chicago of Oak Park, Illinois. By 1917, Otto Kolschowsky expanded into the wholesale meat trade field and relocated his business to another Chicago suburb, the city of Maywood, Illinois. In 1928, the company became known as Otto & Sons and they had developed a reputation for making quality meats.
In 1955, when the first McDonalds restaurant was opened in Des Plaines, Illinois they choice of meat supplier was nonetheless Otto & Sons. McDonalds used their meat for their fresh ground patties. In 1975, Otto & Sons changed their name to OSI Industries.
Today, there’s a rising popularity in plant based foods. As a result, Impossible Foods has come to an agreement with veteran food manufacture OSI Group. OSI Group agreed to help with the supply and demand. In recent news, Impossible Foods was struggling since April to meet the demand from big chain customers such as White Castle and Burger King. In addition to the supply and demand in the market, Beyond Meat successful IPO had stoked the interest of consumers and investors. Beyond Meat’s share price had climbed to nearly 700%, since it debuted back in May on the Nasdaq.
Currently, the Impossible Burger is sold at approximately 10,000 restaurants worldwide. This number doubled from last year when it was nearing 5,000. With this success, the company is planning on selling groceries by the end of the year. The OSI Group objective is to help Impossible Foods expand their production by the end of the year. Their next goal is to develop products like frozen foods.