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.
Smoke that filled the cabin of a Delta flight as it took off from the Atlanta airport in February was so thick the led flight attendant had trouble seeing past the first row of passengers and the pilots donned oxygen masks as a precaution.
Arjan Stephens, President of Nature's Path, discusses the company's origin, how it has evolved today and the interesting product that came from his wedding!
Small business reporter, Gene Marks, joins Cheddar to give analysis on how small businesses are tackling incoming tariffs and how it will affect the consumer.
Babylist CEO Natalie Gordon joins Cheddar to discuss how the website is helping new parents, how to make a registry and how secondhand options are available.
Biotechnology company Regeneron Pharmaceuticals is buying 23andMe for $256 million, two months after the genetic testing company filed for Chapter 11 bankruptcy protection.
