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McDonald's unveils McPlant line, which includes meatless patty co-created by Beyond Meat
McDonald's will test a meat-free burger in several markets next year as it adds plant-based menu offerings, which it has coined "McPlant."
International President Ian Borden said that McPlant was created "by McDonald's and for McDonald's." Borden said that the McPlant line could also include chicken substitutes.
McDonald's has not yet disclosed the supplier for the line. A company spokesperson declined to identify their supplier but said that McDonald's will not be manufacturing the products.
But a spokesperson for Beyond Meat said in a statement to CNBC that the company co-created the plant-based patty that will be available as part of the McPlant line. Shares of Beyond rose as much as 4% in afternoon trading after falling as much as 6% earlier on Monday. The stock, which was briefly halted for volatility in both morning and afternoon trading, is currently down less than 1%.
See also: Beyond Meat shares rise on news that it collaborated with McDonald's on the McPlant options
Beyond Meat earnings miss big on declining food service and consumer demand
Beyond Meat's partnership with McDonald's to develop the McPlant burger wasn't enough to keep shares from collapsing after the company posted third-quarter earnings that fell far below analysts' expectations.
The big miss sent shares tumbling nearly 29% in after markets closed Monday after reporting it generated $94.4 million in revenues and a loss of 28 cents per share versus the $132.8 million in revenue and 5 cents per share loss that analysts had expected.
Previously: Meatless "Beyond Burgers" Come to Fast Food Restaurants
Following IPO of Beyond Meat, Tyson Foods Plans Launch of its Own Meatless Products
Plant-Based "Impossible Burger" Coming to Every Burger King Location
Meat Industry PR Campaign Bashes Plant-Based Meat Alternatives
Bot Orders $18,752 of McSundaes Every 30 Minutes to Find If Machines are Working
(Score: 2) by SomeGuy on Tuesday November 10 2020, @08:51PM (4 children)
I suppose to serve vegetarians is one thing (To Serve Vegetarians? Its a Cookbook!), but as McDonalds leads the race to the bottom, I fully expect what will happen is they refine the process until it is cheaper than meat and then drop meat/allegedly meat products.
Fuck McDonald's hamburgers anyway. Dollar Tree has these nice little microwavable QuickBite burgers that are just as good, if not better, quicker to nuke than waiting in line, and safer since you don't have to wait around in a filthy McGrease pit.
(Score: 2) by epitaxial on Tuesday November 10 2020, @08:54PM
You buy hamburgers from a dollar store?
(Score: 2) by Subsentient on Tuesday November 10 2020, @09:32PM
Those Dollar Tree burgers probably contain more meat from Ukrainian children than from cows.
"It is no measure of health to be well adjusted to a profoundly sick society." -Jiddu Krishnamurti
(Score: 3, Insightful) by krishnoid on Tuesday November 10 2020, @09:34PM
McDonald's food isn't great, but it seems like they provide a real service for the poor [financialpost.com] even in a polite socialist hellhole like Canada.
(Score: 2) by FatPhil on Wednesday November 11 2020, @11:36AM
And the "vegetables are what food eats" saying maintains its truthiness.
Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves