Tyson Invests in Plant Protein Supplier
Beyond Meat, based in El Segundo, Calif., offers burger patties, imitation chicken strips, single-serve frozen meals like chili, and other meat-like products, all made with ingredients like soy and pea protein. Its products are sold at retailers including Whole Foods, Walmart, Target, Kroger, Safeway, Publix and Sprouts.
The Tyson investment was part of a fund-raising effort by Beyond Meat that included funding from Bill Gates and the Humane Society.
“We’re enthusiastic about this investment, which gives us exposure to a fast-growing segment of the protein market,” said Monica McGurk, Tyson’s executive vice president of strategy and new ventures. “It meets our desire to offer consumers choices and to consider how we can serve an ever-growing and diverse global population, while remaining focused on our core prepared foods and animal protein businesses.”