Beyond Meat® Announces Global Strategic Partnership with Yum! Brands to Offer Signature Plant-Based Menu Items
February 25 2021 - 4:10PM
Beyond Meat, Inc. (NASDAQ: BYND) today announced a global strategic
partnership with Yum! Brands (NYSE: YUM) to co-create and offer
craveable and innovative plant-based protein menu items that can
only be found at KFC, Pizza Hut and Taco Bell over the next several
years. Beyond Meat® and Yum! Brands expect to leverage their
industry-leading research and development capabilities to meet the
evolving tastes of the consumers of today and tomorrow.
“We are honored to enter into a global strategic
partnership with Yum! Brands, one of the world's largest restaurant
companies. We look forward to expanding our work with the teams at
Yum's iconic KFC, Pizza Hut and Taco Bell brands to together bring
truly delicious plant-based product innovation to consumers," said
Ethan Brown, Beyond Meat Founder & CEO.
Beyond Meat’s strategic partnership with Yum!
Brands will be an expansion of the companies’ growing track record
of collaborations to offer delicious and sustainable plant-based
products. KFC was the first national U.S. quick-service restaurant
to introduce plant-based chicken when it tested Beyond Fried
Chicken™ at an Atlanta-area restaurant in 2019. Since the initial
rollout, KFC has expanded testing of Beyond Fried Chicken in other
U.S. cities. In 2020, Pizza Hut U.S. launched the Beyond Italian
Sausage Pizza and the Great Beyond Pizza nationwide, becoming the
first national pizza chain to introduce a plant-based meat pizza
coast-to-coast.
Through this collaboration, Yum! Brands will
build on its tradition of food innovation and creating new consumer
markets for industry-defining items and increase the number of
plant-based options that appeal to flexitarians, those looking to
incorporate plant-based meat or more diverse protein options into
their diets.
“Today’s announcement builds on our strong
relationship with Beyond Meat and, given the consumer response
during recent tests with Beyond Meat, we’re excited about the
long-term potential plant-based protein menu items have to attract
more customers to our brands, especially younger consumers,” said
Chris Turner, Yum! Brands CFO. “We expect this Beyond Meat
partnership to strengthen our brands’ capability to offer
delicious, plant-based menu items that are driven by consumer
demand for more diverse protein options and our brands’ strategies
in local markets.”
Terms of the global strategic partnership are
subject to mutually agreeable definitive agreements.
ABOUT BEYOND MEAT About Beyond
Meat Beyond Meat, Inc. (NASDAQ: BYND) is one of the fastest growing
food companies in the United States, offering a portfolio of
revolutionary plant-based meats made from simple ingredients
without GMOs, bioengineered ingredients, hormones, antibiotics, or
cholesterol. Founded in 2009, Beyond Meat products are designed to
have the same taste and texture as animal-based meat while being
better for people and the planet. Beyond Meat’s brand commitment,
Eat What You Love™, represents a strong belief that there is a
better way to feed our future and that the positive choices we all
make, no matter how small, can have a great impact on our personal
health and the health of our planet. By shifting from animal-based
meat to plant-based meat, we can positively impact four growing
global issues: human health, climate change, constraints on natural
resources and animal welfare. As of December 31, 2020, Beyond Meat
had products available at approximately 122,000 retail and
foodservice outlets in over 80 countries worldwide. Visit
www.BeyondMeat.com and follow @BeyondMeat, #BeyondBurger and
#GoBeyond on Facebook, Instagram and Twitter and
@BeyondMeatOfficial on TikTok.
MEDIA CONTACTShira
ZackaiShira.Zackai@beyondmeat.com
BEYOND MEAT FORWARD-LOOKING
STATEMENTCertain statements in this release constitute
“forward-looking statements.” These forward-looking statements,
include, but are not limited to, those statements regarding Beyond
Meat’s plans to form a global strategic partnership with Yum!
Brands’ and for Yum! Brands to expand its offerings of plant-based
proteins. These statements are based on management’s current
opinions, expectations, beliefs, plans, objectives, assumptions or
projections regarding future events or future results. These
forward-looking statements are only predictions, not historical
fact, and involve certain risks and uncertainties, as well as
assumptions. Actual results, levels of activity, performance,
achievements and events could differ materially from those stated,
anticipated or implied by such forward-looking statements. There
can be no assurance that Beyond Meat and Yum! Brands will finalize
a global strategic partnership or that, if finalized, such
partnership will achieve the anticipated benefits. Factors that
could cause actual results to differ from those expressed in the
forward-looking statements include, without limitation, the ability
of Beyond Meat and Yum! Brands to reach agreement on definitive
written agreements providing for the global strategic partnership,
and consumer acceptance of products incorporating plant-based
proteins. While Beyond Meat believes that its assumptions are
reasonable, it is very difficult to predict the impact of known
factors, and, of course, it is impossible to anticipate all factors
that could affect actual results. There are many risks and
uncertainties that could cause actual results to differ materially
from forward-looking statements made herein including, most
prominently, the risks discussed under the heading “Risk Factors”
in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2019 filed with the U.S. Securities and Exchange
Commission (“SEC”) on March 19, 2020, the Company’s subsequently
filed Quarterly Reports on Form 10-Q, and the Company’s Annual
Report on Form 10-K for the fiscal year ended December 31, 2020 to
be filed with the SEC, as well as other factors described from time
to time in Beyond Meat’s filings with the SEC. Such forward-looking
statements are made only as of the date of this release. Beyond
Meat undertakes no obligation to publicly update or revise any
forward-looking statement because of new information, future events
or otherwise, except as otherwise required by law. If we do update
one or more forward-looking statements, no inference should be made
that we will make additional updates with respect to those or other
forward-looking statements.
Yum Brands (NYSE:YUM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Yum Brands (NYSE:YUM)
Historical Stock Chart
From Apr 2023 to Apr 2024