Tyson Foods Makes Additional Investment in Beyond Meat
December 07 2017 - 5:30PM
Tyson Foods, Inc. (NYSE:TSN) has made an additional investment in
plant-based protein producer Beyond Meat. Through Tyson’s venture
capital fund, the company chose to participate in Beyond Meat’s
most recent fundraising initiative, which is designed to generate
additional capital to help the business continue to expand its
product portfolio and distribution.
While the terms are not being disclosed, Tyson Foods’ latest
investment slightly increases its ownership stake in Beyond Meat
from the 5 percent established a year ago.
“Global demand for all protein remains high and we’re passionate
about meeting that demand sustainably,” said Justin Whitmore,
executive vice president corporate strategy and chief
sustainability officer of Tyson Foods. “Our investment in
Beyond Meat provides another fantastic alternative for consumers as
we strive to sustainably feed the world.”
Whitmore added, “This investment reinforces our focus on protein
and enables us to support Beyond Meat’s efforts to produce new,
leading edge products. What we’re most excited about is that
we can do all of this while continuing to provide the great
tasting, high quality food that is the hallmark of our
company.”
Beyond Meat reports the latest fundraising round, which also
includes the support of venture capital fund Cleveland Avenue, will
be used to expand production, fund the company’s R&D
commitment, and expand sales and distribution.
Tyson’s venture capital fund was launched in December 2016 and
is focused on investing in promising entrepreneurial food
businesses that are pioneering new products or technology.
About Tyson Foods, Inc. Tyson Foods, Inc.
(NYSE:TSN) is one of the world’s largest food companies and a
recognized leader in protein. Founded in 1935 by John W. Tyson and
grown under three generations of family leadership, the company has
a broad portfolio of products and brands like Tyson®, Jimmy Dean®,
Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State
Fair®. Tyson Foods innovates continually to make protein more
sustainable, tailor food for everywhere it’s available and raise
the world’s expectations for how much good food can do.
Headquartered in Springdale, Arkansas, the company has 122,000 team
members. Through its Core Values, Tyson Foods strives to operate
with integrity, create value for its shareholders, customers,
communities and team members and serve as stewards of the animals,
land and environment entrusted to it. Visit www.tysonfoods.com.
Contact: Gary Mickelson, 479-290-6111,
gary.mickelson@tyson.com
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