November 11, 2020

Beyond Meat co-creates new burger patty with McDonald's

Beyond Meat said it has co-created a new burger patty with McDonald's, as the latter launched a new line of plant-based meat alternative products called McPlant for next year, Reuters reported.

A spokesman for Beyond Meat said both companies worked together to developed the new plant-based patty.

Beyond Meat's shares dropped 8% after McDonald's announcement, but bounced back to end 4% lower after stating it collaborated with McDonald's to develop the product. McDonald's declined to state which suppliers it worked with to create its McPlant menu.

Beyond Meat had conducted tests for a "P.L.T. burger at 100 McDonald's locations in Ontario, Canada earlier this year.

Analysts and fast food competitors have been monitoring McDonald's plans as it is the one of the last restaurant chains to launch a plant-based meat burger.

-  Reuters