Eggless mayo brand ‘Just Mayo,’ made by Hampton Creek, has been threatened by the American Egg Board -- and the CEO is speaking out.
During an interview with the FOX Business Network’s Stuart Varney, CEO Josh Tetrick said:“The American Egg Board is actually run by the USDA… They actually paid someone to call Whole Foods (NASDAQ:WFM) to attempt to block the initial distribution of the product, trying to influence policy.”
Tetrick said the Obama Administration is probing the Egg Board over the controversy.
“They realized… that we are not just a tiny company in San Francisco, but we are making a huge dent in making food better and they see how fast we are growing… they see that we are using plants, not because we are obsessed with plants and crops out there, but we enjoy working with farmers to reduce the cost of food, to use less water and that’s somewhat a threat to their business model but Senator Mike Lee from Utah has already spoken out against. This is a free market economy and may the best product win, ” he said.
According to Tetrick his vegan business is “one of the fastest growing food companies on the planet.”
“It’s not just Whole Foods, but it’s at Walmart (NYSE:WMT), it’s at Dollar Tree(NASDAQ:DLTR), it’s with Compass Group (NYSE:CPG) -- the biggest food company in the world… and you remember the point of the company, make it easier for regular people to eat better and that’s why we are everywhere and I think that’s why some incumbents, not all of them… are feeling a little bit threatened by our product,” he said.
When asked whether it’s a $100 million a year company yet he said: “The value of the company is considerably more than that.”