03:41
+19 C°
Traffic jam:   0
$
73.1904
86.8624
Beyond Meat has struck deals with McDonald’s and Yum! Brands
Beyond Meat has struck deals...
Subscribe to Newsletter

Beyond Meat has struck deals with McDonald’s and Yum! Brands

26 February 2021
2173
2 min.
Beyond Meat has struck deals with McDonald’s and Yum! Brands

Deal with McDonald's and Yum! Brands

Beyond Meat (NASDAQ:BYND) products will soon be widely available at McDonald's (NYSE:MCD) and Yum! Brands (NYSE:YUM)-owned KFC (T:3420), Pizza Hut and Taco Bell's most famous fast food restaurants.

The plant-based protein company announced on Thursday that it has signed a three-year agreement with McDonald's to make Beyond Meat its preferred supplier of 'meat' for McPlant sandwiches. The partners also intend to develop other menu items that will contain alternative protein. These could be plant-based pork, chicken and egg products.

As for Yum!, Beyond Meat said they will "co-create and offer innovative plant-based protein menu products that can only be found at KFC, Pizza Hut and Taco Bell over the next few years". Beyond Meat has not disclosed the financial terms of either agreement.

Neither came as a surprise Beyond Meat and McDonald's have been collaborating since 2019, when the fast-food giant tested a product made with the Beyond Meat patty. The collaboration with Yum! began back then with the test launch of Beyond Fried Chicken at Georgia KFC.

Nevertheless, the current agreements represent a big step forward for both joint projects. These anchor deals are sure to be followed by further collaborations with chain operators and franchise operators.

Also on Thursday, after the market close, Beyond Meat released its Q4 2020 results, which were worse than analysts' forecasts. Revenue rose almost 4% year-on-year to $101.9m, but net loss (adjusted, non-GAAP) rose to $21.4m or $0.34 per share. Analysts, however, had expected revenue of $103.2m and a net loss per share of $0.13.

The company's shares lost 5.46% during the main session on Thursday and are adding 4.28% today on the pre-market.

Section:

Discussion

Rating companies
Apple
78 Mention
Tesla
78 Mention
Nasdaq
76 Mention
Amazon
67 Mention
Dow Jones
62 Mention
Facebook
52 Mention
Microsoft
43 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director