The two companies announced
the joint venture.
"Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products." Ram Krishnan, Pepsi’s Global Chief Commercial Officer, via statement.
"PepsiCo represents the ideal partner for us in this exciting endeavor, one of global reach and importance." Beyond Meat CEO Ethan Brown, via statement.
An LLC called The PLANeT Partnership will oversee operations, but more details have yet to be revealed.
Beyond Meat shares rose over 31%
after the news.
the joint venture.
"Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products." Ram Krishnan, Pepsi’s Global Chief Commercial Officer, via statement.
"PepsiCo represents the ideal partner for us in this exciting endeavor, one of global reach and importance." Beyond Meat CEO Ethan Brown, via statement.
An LLC called The PLANeT Partnership will oversee operations, but more details have yet to be revealed.
Beyond Meat shares rose over 31%
after the news.
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