Another huge step forward for the McPlant, as Beyond Meat announces a three-year worldwide strategic agreement with fast food icon McDonald’s. Today’s agreement means that Beyond Meat will be the McDonald’s supplier of choice for the McPlant patty, as well as future products for the upcoming plant-based range to include items such as vegan chicken, pork and egg products.
Beyond Meat Founder & CEO Ethan Brown also revealed a partnership with Yum! Brands, which includes restaurant chains KFC, Taco Bell and Pizza Hut. Similar to the McDonald’s agreement, it makes Beyond Meat the preferred supplier for Yum! Brands as well as developing plant-based menus for its restaurants. Next week is sure to see interesting activities in the Beyond Meat stock.
McDonald’s, which is the world’s biggest restaurant chain, is currently trialling its plant-based burger in Sweden and Denmark, in what the GFI referred to as a “game-changing moment”. Further trials are due in select McDonald’s markets globally.
Not only that, last month Beyond Meat launched a joint corporation with food and beverage giant PepsiCo. The venture, called The PLANeT Partnership, will develop, produce, and market vegan snacks and beverages, combining Beyond Meat’s plant-based innovation and PepsiCo’s sales and marketing infrastructure. The deals surely confirm Beyond Meat’s place as the leading plant-based supplier in the fast-food sector.
“Our new McPlant platform is all about giving customers more choices when they visit McDonald’s,” said Francesca DeBiase, McDonald’s Executive Vice President and Chief Supply Chain Officer. “We’re excited to work with Beyond Meat to drive innovation in this space, and entering into this strategic agreement is an important step on our journey to bring delicious, high quality, plant-based menu items to our customers.”
“We are proud to enter into this strategic global agreement with McDonald’s, an exciting milestone for Beyond Meat, and look forward to serving McDonald’s as they bring expanded choice to menus globally,” said Ethan Brown, Beyond Meat Founder & CEO. “We will combine the power of Beyond Meat’s rapid and relentless approach to innovation with the strength of McDonald’s global brand to introduce craveable, new plant-based menu items that consumers will love.”