Business

“Beyond Meat” makes long-term deals with “McDonald’s” parent company, “Kentucky Fried Chicken”

Beyond Meat, the US meat substitute, announced Thursday that it has signed partnerships with fast food giants McDonald’s and Yum! Brands, parent company of KFC, Pizza Hut, and Taco Bell.

The “strategic agreements” will cover a period of three years for McDonald’s and “the next several years” for Yum! Brands, according to two separate statements from Beyond Meat.

Beyond Meat will be the main supplier of pie at McPlant, a vegan burger that is currently undergoing testing in McDonald’s restaurants around the world.

The two companies, which have been in business together since 2019, also plan to work together to explore and develop other menu items, including vegetarian options for chicken, pork and eggs, they said in the statement.

The goal is to help McDonald’s offer a large variety of vegetarian products.

“This strategic agreement is an important step in our journey to offer our customers delicious, high-quality, plant-based menu items,” said Francesca DiBiase, McDonald’s Executive Vice President, in the statement.

Yum! Brands was the first group to introduce vegan chicken alternatives through the KFC chain in 2019 in the US, through a collaboration with Beyond Meat.

They followed the step up last year with the option of pizza at Pizza Hut, which serves up veggie sausages made by the startup.

“We expect this Beyond Meat partnership to enhance our brands ‘ability to offer delicious vegan menu items driven by consumer demand for more diverse protein options and our brands’ strategies in local markets,” said Yum. CFO trademarks in the statement.

The financial terms of the two agreements were not disclosed.

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