By Dave Sebastian

 

PepsiCo Inc. and Beyond Meat Inc. said they are forming the PLANeT Partnership LLC, a joint venture for developing plant-based snacks and beverages.

The companies on Tuesday didn't disclose the partnership's financial terms. Beyond Meat will contribute its technology in plant-based protein development, while PepsiCo will use its marketing and commercial capabilities, the companies said.

PepsiCo said the joint venture is part of its effort to add sustainably made products to its portfolio.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

January 26, 2021 08:53 ET (13:53 GMT)

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