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posted by martyb on Thursday May 09 2019, @03:08PM   Printer-friendly
from the grilling-investment-decisions dept.

After exiting Beyond Meat, Tyson Foods will launch meatless products this summer

After exiting Beyond Meat, Tyson Foods said that it will roll out its own plant-based meat substitutes beginning this summer.

The Jimmy Dean owner sold its stake in Beyond before the company went public, citing its desire to produce vegetarian meat substitutes under its own umbrella of brands. CEO Noel White told analysts on the quarterly conference call Monday that the plant-based product will launch this summer on a limited basis, with a wider rollout in October and November.

[...] Beyond made the strongest market debut so far this year on Thursday, surging 163%. The stock has a market value of $3.97 billion, dwarfed by Tyson's own market value of $22.66 billion. Tyson shares gained more than 2% Monday.

Despite the difference in market value, Beyond and other makers of plant-based meat alternatives — such as Impossible Foods — pose a threat to Tyson. Beyond Meat's CEO, Ethan Brown, told CNBC that the company is trying to capture the meat industry's customers. Its gluten- and soy-free products are meant to more closely resemble and taste like meat than previous iterations of veggie burgers.

Also at CNN.

See also: Beyond Meat goes public with a bang: 5 things to know about the plant-based meat maker
Competitors Sink Their Teeth Into The Meatless-Meat Industry

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  • (Score: 2) by bobthecimmerian on Friday May 10 2019, @02:22AM (1 child)

    by bobthecimmerian (6834) on Friday May 10 2019, @02:22AM (#841666)

    I give the substitutes a free pass on high price for a few years because the meat industry has huge economies of scale and government subsidies (free access to public water and land in some places, etc...) But if these things become more popular and the price doesn't go down, the free pass will be revoked.

    I haven't had the Impossible Burger. I find veggie burgers that don't even attempt to taste like meat to be decent, but not as good as a good beef burger. I find most veggie burgers that try to be meat substitutes to be awful. The Beyond Meat Burger is the first vegan burger that provides a texture identical to a good beef burger and a taste close enough that I can tell there's a difference but I don't mind it.

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  • (Score: 2) by takyon on Friday May 10 2019, @02:34AM

    by takyon (881) <{takyon} {at} {}> on Friday May 10 2019, @02:34AM (#841674) Journal

    It's at various places and it might cost double that of a regular burger. []

    The real tipping point will be when it comes to all ~7,200 U.S. Burger King locations, expected sometime this year: []

    [SIG] 10/28/2017: Soylent Upgrade v14 []