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PepsiCo and Beyond Meat® Establish The PLANeT Partnership, LLC, a Joint Venture to Introduce New Plant-Based Protein Offerings

Partnership advances PepsiCo's commitments to expand its portfolio of positive choices for consumers and for the planet
The venture will allow Beyond Meat to reach more consumers by entering new product categories and distribution channels
PURCHASE, N.Y. and EL SEGUNDO, Calif., Jan. 26, 2021 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) and Beyond Meat, Inc. (NASDAQ: BYND) today announced they will form The PLANeT Partnership, LLC (TPP), a joint venture to develop, produce and market innovative snack and beverage products made from plant-based protein. The joint venture will leverage Beyond Meat's leading technology in plant-based protein development and PepsiCo's world-class marketing and commercial capabilities to create and scale new snack and beverage options. Financial terms of the partnership were not disclosed. Joint venture operations will be managed through the newly created entity The PLANeT Partnership, LLC (TPP).