PepsiCo and Beyond Meat establish joint venture

A recently formed joint venture between PepsiCo and Beyond Meat aims to increase the range of innovative snacks and drinks based on vegetable proteins. With the 'PLANeT Partnership', PepsiCo wants to pursue its sustainability goals, while the producer of meat substitutes hopes to reach a larger target group.

PepsiCo and Beyond Meat start a joint venture, the so-called 'PLANeT Partnership'. With this they want to develop, produce and market snacks and drinks based on vegetable proteins. Beyond Meat will be responsible for production, while PepsiCo will then have to market all products. The development is tackled jointly.

"Vegetable proteins are a major growth opportunity for us, further realizing our efforts to build a more sustainable food system. The choice for Beyond Meat was an easy one. The company is a trailblazing innovator in this fast-growing market" said Ram Krishnan, PepsiCo Global Chief Commercial Officer.

Sustainability first
The new joint venture follows The effort from PepsiCo to create a more sustainable food system. One of the most important pillars in that plan is the use of ingredients that are not harmful to the environment, humans and animals. The company also strives to make it easier for consumers to make healthy food choices. In addition to these kinds of initiatives, the company has therefore already made various acquisitions, including the acquisition of Bare Snacks (maker of baked fruit and veggie chips) and SodaStream.

“We share PepsiCo's passion for making products that are good for people and the planet, using simple and plant-based ingredients (without any form of genetic modification). PepsiCo represents the ideal partner for us and also has a global reach ", says Ethan Brown, founder of Beyond Meat.

The financial terms of the partnership have not been disclosed by either side.

Kimberly Baker

Kimberly Bakker is an all-round editor at Boerenbusiness. She also has an eye for the social media channels of Boerenbusiness.

k.baker @boerenbusiness. Nl

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