Shares
Today, vegan brand Beyond Meat and food and beverage giant PepsiCo announced a new joint corporation, The PLANeT Partnership. Through the venture, Beyond Meat and Pepsi will develop, produce, and market plant-based snacks and beverages. “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,” Pepsi Global Chief Commercial Officer Ram Krishnan said.
Through the partnership, Beyond Meat will leverage Pepsi’s extensive marketing and production networks while Pepsi can capitalize on the growth of the plant-based industry. “PepsiCo represents the ideal partner for us in this exciting endeavor, one of global reach and importance,” Beyond Meat CEO Ethan Brown said.
27th January 2021
PepsiCo and meat substitutes firm Beyond Meat have formed a joint venture to develop and sell snacks and drinks made from plant-based protein.
The newly-created ‘The PLANeT Partnership’ will aim to leverage Beyond Meat’s technology in plant-based protein development and PepsiCo’s marketing and commercial capabilities to create new lines that tap into growing consumer demand for vegan products.
As well as its namesake soft drink, PepsiCo owns brands such as Walkers, Lays, Quaker and Doritos. Like other major food manufacturers, it has been looking to expand its portfolio towards more health-focused snacks and beverages.
“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,” said Ram Krishnan, PepsiCo Global Chief Commercial Officer.
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.