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Raysonho @ Open Grid Scheduler / Scalable Grid Engine
Shares in plant-based meat producer Beyond Meat jumped more than 36% after the opening of trading on January 26. By mid-afternoon, the securities were worth about $216, more than a third higher than Monday's closing price, according to Nasdaq exchange data. The company's shares added nearly 13% to $158.73 a share on Monday.
The reason for the rush in demand may have been the announcement of Beyond Meat's partnership with PepsiCo, a major international food producer that owns the Pepsi and Lay's brands, J7. The companies announced on 26 January that they will launch a joint venture to develop, produce and sell new plant-based protein snacks and drinks. The partners will work through a new company, The PLANeT Partnership. Financial terms of the partnership were not disclosed.
Plant-based protein is a unique growth opportunity and PepsiCo's new ambition to build a renewable food system, said PepsiCo chief commercial officer Ram Krishan. PepsiCo's distribution and marketing capabilities in the joint venture will combine with Beyond Meat's cutting-edge innovation, said Ethan Brown, founder and CEO of the start-up.
source: cnbc.com
The reason for the rush in demand may have been the announcement of Beyond Meat's partnership with PepsiCo, a major international food producer that owns the Pepsi and Lay's brands, J7. The companies announced on 26 January that they will launch a joint venture to develop, produce and sell new plant-based protein snacks and drinks. The partners will work through a new company, The PLANeT Partnership. Financial terms of the partnership were not disclosed.
Plant-based protein is a unique growth opportunity and PepsiCo's new ambition to build a renewable food system, said PepsiCo chief commercial officer Ram Krishan. PepsiCo's distribution and marketing capabilities in the joint venture will combine with Beyond Meat's cutting-edge innovation, said Ethan Brown, founder and CEO of the start-up.
source: cnbc.com
