Company News

Shares of Beyond Meat Triple Following Tim Hortons Announcement

Canada’s largest coffee chain, Tim Hortons, announced on Wednesday that it will trial the Beyond Meat sausage in two sandwiches and one breakfast wrap, at selected locations. If the trial proves successful, the chain has said that the items will be rolled out nationwide by the end of summer.

Since the announcement, shares of Beyond Meat have risen – in varying reports between 12% and 16%, with CNBC saying that shares reached a high of $93.

Beyond Meat was the first plant-based meat company to file as a public company, on 2nd May. Upon its market launch, shares reportedly saw the highest first day gain in twenty years. According to the Financial Times, shares were 11.5% higher at $88.82 in afternoon trading in New York yesterday, and the stock has more than tripled in value since the 2nd May.

President of Tim Hortons Alex Macedo stated: “Canadians are looking to incorporate plant-based options into their diets and we’re thrilled to partner with Beyond Meat to test three Beyond Meat Breakfast Sandwiches — including an entirely vegan offering if the market test confirms the potential we see for the platform.”

Beyond Meat CEO / Founder Ethan Brown commented that a national roll-out “would allow us to further our mission of making delicious plant-based products more readily accessible to Canadians nationwide.”

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