America's Biggest Meat Company Is Investing In Fake Meat
One of the world’s largest meat processing companies is taking a 5-percent ownership stake in a company that produces plant-based faux meat products.
Tyson Foods announced Monday that it’s investing in Beyond Meat, a privately held company best known for creating the “Beyond Burger,” a vegan burger that “bleeds” beet juice. The amount Tyson is investing has not been disclosed, The New York Times reports.
“This investment by Tyson Foods underscores the growing market for plant protein,” said Beyond Meat founder and CEO Ethan Brown in a Tyson press release. “I’m pleased to welcome Tyson as an investor and look forward to leveraging this support to broaden availability of plant protein choices to consumers.”
The announcement drove up shares in Tyson Foods on Tuesday, according to The Street.
Demand for plant-based meat alternatives is growing worldwide due to a variety of factors, including concerns about animal welfare, desires to eat healthier and increased awareness of industrial animal agriculture’s impacts on the environment and climate. (That said, research suggests that meat consumption is up in the U.S. compared to recent years, largely driven by a surplus of chicken driving poultry prices down.)
America"s Biggest Meat Company Is Investing In Fake Meat
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