, the parent company of Kentucky Fried Chicken, Pizza Hut, and Taco Bell, which will further scale the company and also help mitigate the company's 54% year-over-year decline in the foodservice channel.
As part of the three-year global strategic agreement with McDonald's, Beyond Meat will become the preferred supplier for the patty in the McPlant."We're excited to work with Beyond Meat to drive innovation in this space, and entering into this strategic agreement is an important step on our journey to bring delicious, high quality, plant-based menu items to our customers," said Francesca DeBiase, McDonald's Executive Vice President and Chief Supply Chain Officer.
"With these two deals, the world's largest restaurant chains are placing plant-based meat directly on the plates of millions of customers around the world. McDonald's and Yum Brands have doubled down on plant-based meat and have demonstrated the long-term potential they see in the category. This is the clearest sign yet that the future of meat will be plant-based," said The Good Food Institute Executive Director Bruce Friedrich.
Beyond gross 🤢
Bigger disruption, Beyond meat vs meat companies, or Almond milk vs Dairy companies?
Probably disrupts a few colons as well.
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Source: CNBC - 🏆 12. / 72 Read more »
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