Beyond Says It Collaborated With McDonald’s on McPlant Patties
By: Anne Riley Moffat and Elizabeth Elkin (Bloomberg)
McPlant patties? Greasy french fries will still be big seller, though.
S E E D E D C O N T E N T
Beyond Meat Inc. recovered earlier losses after announcing it collaborated with McDonald’s Corp. in the creation of plant-based patties for the fast-food giant’s new line of substitute meat products.
The companies co-created the plant-based patty, which will be available as part of the new McPlant platform, Beyond Meat said. The company didn’t say whether the collaboration was ongoing or offer financial details of any partnership. McDonald’s declined to confirm the Beyond Meat news or comment on its suppliers.
The announcement from Beyond Meat helped the stock reverse earlier losses after McDonald’s said its new plant-based burgers would be “crafted exclusively for McDonald’s by McDonald’s.” The market interpreted that to mean it wasn’t working with one of the main faux-meat suppliers, like Beyond or chief rival Impossible Foods Inc.
That original announcement had sent Beyond Meat shares plunging earlier on Monday and sparked a temporary pause in trading. Shares have since recovered and were little changed as of 2:07 p.m.
In an earlier call, McDonald’s said its new McPlant line of products could eventually include plant-based chicken and meat for breakfast sandwiches. Some markets will test the burger next year.
Beyond Meat is scheduled to release third-quarter earnings Monday after the close of U.S. trading.
McDonald’s didn’t specify the markets where it plans to sell McPlant products. When asked about timing, Chief Executive Officer Chris Kempczinski said on the call that “the exact pace of that is going to be dictated, as it always is, by the customer demand.”
Past Trials
McDonald’s and Beyond have worked together before. The burger chain had run a trial of a plant-based meat product supplied by Beyond Meat in parts of Canada for several months in late 2019 and early 2020.
Impossible Foods supplies Burger King with the patties for its Impossible Whopper, and Starbucks Corp. has added a sandwich with the company’s plant-based meat in the U.S. Beyond Meat, meanwhile, has partnered with Starbucks in China and provides breakfast meat for Dunkin’ Brands Group Inc. Both companies have become prevalent across the industry in recent years.
Consumers are rapidly adopting plant-based meat substitutes that increasingly taste and feel like food made from beef and pork. This trend appears to have persisted amid the Covid-19 pandemic that has radically altered consumer landscape in a short period of time.
Tags
Who is online
73 visitors
Maybe McDonalds should just try selling french fries on a bun. Wouldn't that be the same thing?
I'm a confirmed carnivore. Give me the real thing any day!
A McPlant patty with bacon and cheese.
I'm with you on that.
I tried one of Burger King's plant burgers. It was surprisingly good. I don't eat fast food burgers often, but I am partial to those from Jack In The Box.
My favorite are White Castle's sliders. A dozen would be good right now.
I've heard they are good, but I have never had one. They sell them at Von's but past experience tells me that they would not be the same.
Yeah, I've tried the frozen White Castles and they're not the same. The White Castle patties are steamed on onions and not grilled. That gives them a unique flavor and texture. Not for everyone, I suppose, but I like 'em.
I tried one of Burger King's Impossible Whoppers once and did not like it. Just did not taste right. On the other hand, one of my grandsons really likes them.
With McDonalds, would anyone be able to tell the difference?
Probably not...
The main problem with plant-based burgers is that every company that makes them, uses coconut and coconut oil [as so many products on the market do] and I cannot have anything with coconut or coconut oil.
Do you know how frustrating it is to find ANY product without the use of coconut and / or coconut oil? Soaps, shampoos / conditioners, face wash, all kinds of food [even at restaurants], cosmetics, laundry soap, hand sanitizers, perfumes and lotions... I have to scrutinize every label and know all of the "coconut derivative" names. Once I know that a product does NOT contain those things, I can finally use them without checking said label; however, those products often go away for an alternate that contains coconut [oil or derivative] and then I have to find something new again! I actually began making my own body butters, soaps, body washes, perfumes and shampoos so I know what's in them and I no longer have to worry about it... that's how frustrating it is.
I can make almost any scent I want too.
Apologize for the rant.
The main problem with plant based burgers & meats is, they're plants. I likes my meats!
Me too.
Instead of plant based meats, they should make meat based meats. The slogan can be something like," Hey, we heard you like meats. So we put more meat in your meat." Lol
Kind of like Arby's, "We have the meats."
And one can never have enough meats.