PepsiCo is joining forces with Beyond Meat to develop new snacks and drinks made from plant-based proteins.
By Dee-Ann Durbin
PepsiCo and Beyond Meat are creating a joint venture to develop snacks and drinks made from plant-based proteins.
The companies didn’t reveal what kinds of products they will make Tuesday, saying they’re still in development.
But the collaboration, the largest of its size outside of the restaurant industry for Beyond Meat, sent its shares to their largest single-day gain since they began trading, jumping by more than $50 each to $209.17.
Pepsi gets access to one of the leading plant-based meat companies as more people try to cut down on meat consumption and become more aware of how their food choices affect the environment.
Beyond Meat gets access to Pepsi’s colossal distribution system and broad product line. Pepsi, in addition to drinks, makes Fritos, Cheetos, and Tostitos, as well as Matador beef jerky.
Beyond Meat, which was founded in 2009, makes burgers and sausages from pea protein.
Financial terms of the deal weren’t released. The joint venture will be managed through a new entity called The Planet Partnership.
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!
Emily Hosie, CEO of Rebelstork, explains the concept of Returns Recommerce, plus how her company raised $18M to address the industry-wide issue of returns.
Steven Overly, Host of Politico Tech, talks to Dave Briggs about the key takeaways from Joe Rogan's interview with Mark Zuckerberg, all under 20 minutes. Watch!
Abrar Al-Heeti, Tech Reporter at CNET, explains what will happen if and when the TikTok app is banned in the United States. Plus, who may buy it? Watch!
