The Rising Influence of Rising Affluence

[DewDiligence]

BYND inks new deals with MCD, YUM:

https://www.wsj.com/articles/beyond-meat-signs-supply-deals-with-mcdonalds-yum-11614296251

Under separate agreements announced Thursday, California-based Beyond said it would be the preferred supplier for a new plant-based burger from McDonald’s Corp., while helping develop new plant-based menu items for Yum Brands Inc. chains KFC, Pizza Hut and Taco Bell.

,,,Beyond’s three-year global strategic agreement with McDonald’s includes working with the burger giant on potential chicken, pork and egg alternatives. McDonald’s announced its McPlant products in November, saying that the chain envisioned a line of plant-based menu offerings, following an earlier test of Beyond-made patties.

Yum’s partnership with Beyond will focus on creating new menu items that expand on the companies’ earlier introductions, which included Beyond-made fried chicken tested by KFC in 2019, and Beyond-made toppings launched in 2020 at Pizza Hut. Mr. Brown said that Beyond wasn’t likely to generate many sales from the new ventures until the end of 2021.

BYND also reported 4Q20 financial results (https://finance.yahoo.com/news/beyond-meat-reports-fourth-quarter-210500383.html ); the company is not yet profitable.