Image courtesy of Beyond Meat Inc.
Jan. 27, 2021
PepsiCo Inc. and Beyond Meat Inc. have formed The PLANeT Partnership, LLC, a joint venture to develop, produce and market snack and beverage products made from plant-based protein, according to a press release.
The venture will leverage Beyond Meat's technology in plant-based protein development and PepsiCo's marketing capabilities to create and scale new snack and beverage options. Financial terms of the partnership were not disclosed.
"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, PepsiCo global chief commercial officer, said in the release.