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Beyond Meat Signs Supply Deals with McDonalds

Published by

December 5, 2024
(GMT+2)

Beyond Meat Inc. said it struck deals to supply plant-based meat limitations to McDonald’s, KFC and Pizza Hut, a victory in the company’s effort to take meat alternatives into the American dining industry.Under separate agreements announced on Thursday, California-based Beyond said it would be the preferred supplier for a new plant-based burger from McDonald’s Corp., while helping develop new plant-based menu items for Yum Brands Inc. chains KFC, Pizza Hut and Taco Bell.The deals boost Beyond’s prospects as more restaurants stay in-person dining, after coronavirus forced shutdowns and restrictions on dining out over the past year. The pandemic’s blow to the food-service industry hurt Beyond’s business, which had been heavily propelled by restaurants in recent years, and caused the company to focus more on supermarket sales. Beyond reported Thursday a $25.2 million loss for 2020’s fourth quarter, as restaurant orders remained slow. Beyond, that started in 2009, processes yellow pea protein, canola oil, potato starch and other ingredients to produce patties and sausages meant to mimic the taste, feel and appearance of traditional meat.

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