Beyond says it collaborated with McDonald’s on McPlant patties
LA TimesBeyond Meat Inc. recovered earlier losses after announcing it collaborated with McDonald’s Corp. in the creation of plant-based patties for the fast-food giant’s new line of substitute meat products. The announcement from Beyond Meat helped the stock reverse earlier losses after McDonald’s said its new plant-based burgers would be “crafted exclusively for McDonald’s by McDonald’s.” The market interpreted that to mean it wasn’t working with one of the main faux-meat suppliers, such as Beyond Meat or chief rival Impossible Foods Inc. That original announcement had sent Beyond Meat shares plunging earlier Monday and sparked a temporary pause in trading. In an earlier call, McDonald’s said its new McPlant line of products could eventually include plant-based chicken and meat for breakfast sandwiches. When asked about timing, Chief Executive Chris Kempczinski said on the call that “the exact pace of that is going to be dictated, as it always is, by the customer demand.” McDonald’s and Beyond Meat have worked together before.
History of this topic
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