One of the biggest meatpackers in the world, Tyson Foods, “appears to be the first big meat company to invest in a business that, among other things, aims to reduce consumption of chicken, beef and pork by replacing it with plant proteins,” says the New York Times. Tyson purchased a 5-percent share of Beyond Meat, based in California.
Beyond Meat began sales of its “Beyond Burger” this year, a plant-protein burger that Whole Foods has stocked next to the meat case in its stores. Tyson did not disclose how much it spent for its share of Beyond Meat, part of a segment of the food market — plant-based foods — that is small but rapidly growing, said the Times. A trade group says plant-based foods tallied $4.9 billion in sales for the year ending in June.
Ethan Brown, founder of Beyond Meat, said the investment by Tyson will help the company move “into a mainstream discussion with the consumer.” A Tyson executive in charge of new ventures said the company viewed its investment as “just another form for consumers to enjoy protein as part of their daily diet.”