PepsiCo Inc and Beyond Meat Inc said on Tuesday they would form a joint venture to develop and sell snacks and beverages made from plant-based protein.
PepsiCo Inc and Beyond Meat Inc said on Tuesday they would form a joint venture to develop and sell snacks and beverages made from plant-based protein. Beyond Meat’s shares, which gained about 65% last year, were up 22.4% in premarket trading, while those of PepsiCo were up 1%. Plant-based meat alternatives, such as burger patties and sausages from Beyond Meat, have gained in popularity in recent years as curious health-conscious consumers look to broaden or shift from chicken, pork and beef-based diets.
