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Home Topics Retail

PepsiCo and Beyond Meat’s vegan deal triggers share surge

Joint venture to deliver new plant-based products into supermarkets

by May Davies
January 28, 2021
in Business
Reading Time: 1 min read
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Food giant PepsiCo has partnered with Beyond Meat to “build a more sustainable food system.” Beyond Meat’s share price jumped 31 percent on the morning of the announcement.

Called the PLANeT Partnership, the joint venture will develop, produce and market snacks and drinks made from plant-based protein.

PepsiCo’s Global Chief Commercial Officer, Ram Krishnan said, “Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system.

“We look forward to combining Beyond Meat’s expertise with our capabilities in brand-building, consumer insights and distribution.”

Ethan Brown, Beyond Meat Founder and CEO, said, “PepsiCo represents the ideal partner for us, one of global reach and importance.”

He said the joint venture, “unites the depth and breadth of their distribution and marketing capabilities with our leading innovation in plant-based protein.”

The venture will develop products grown and made sustainably. This includes using techniques like regenerative agriculture and net water and carbon-neutral production plants.

Plant-based ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol will be used.

PepsiCo generated more than $67 billion in net revenue in 2019. Beyond Meat was founded in 2009. It’s committed to improving human health, climate change, constraints on natural resources and animal welfare.

  • WTO head joins PepsiCo leadership

  • Soaring pea costs to hit plant-based meat producers

  • Investing in a slice of the non-meat future

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May Davies is a founding contributor to Quota. She is a freelance writer specialising in food systems delivered by the business and policy sectors. Contact MayDavies@quota.media.

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