Beyond Meat shares rise as Canadian coffee chain adds meat-free patties to menu
Patrons at Tim Hortons can enjoy a Beyond Meat Breakfast Sandwich, Breakfast Wrap and Vegan Sandwich at select locations
16 May 2019 --- Shares of Beyond Meat, the Californian innovator behind a plant-based burger alternative, reportedly rose by 16 percent on Wednesday after Canadian coffee chain Tim Hortons announced that it would include products from the vegan burger maker in three of its new sandwiches. Guests will be able to enjoy a Beyond Meat Breakfast Sandwich, Farmers Breakfast Wrap and Vegan Sandwich, all featuring the Beyond Breakfast Sausage patty.
The news follows the meat-free innovator’s launch of its initial public offering (IPO) of 8,750,000 shares of common stock last month. On May 2, the company raised US$240 million in said Nasdaq IPO. In March, Beyond Meat expanded its product line by debuting Beyond Beef. Driven by consumer demand, the product is designed to have the meaty taste, texture and versatility that consumers love about ground beef, but with the added health and sustainability benefits of plant-based meat.
The meat-free market is growing exponentially as consumers seek meat-free protein sources. “Canadians are looking to incorporate plant‑based options into their diets and we’re thrilled to partner with Beyond Meat to test three Beyond Meat Breakfast Sandwiches – including an entirely vegan offering if the market test confirms the potential we see for the platform,” says Alex Macedo, President of Tim Hortons.
Patrons at Tim Hortons can enjoy a Beyond Meat Breakfast Sandwich, Breakfast Wrap and Vegan Sandwich at select locations“With roughly 4,000 locations in Canada, we’re looking forward to being able to offer Canadians from coast‑to‑coast a truly accessible meat alternative that they can feel good about.”
The new Beyond Meat Breakfast Sandwiches are now available at select test market restaurant locations, with a national rollout by the end of the summer if market tests confirm the potential for the platform.
Based in Los Angeles, California, Beyond Meat was founded in 2009 with a mission of building meat directly from plants to “positively benefit human health, climate change, natural resource conservation and animal welfare.” Spanning frozen and fresh, Beyond Meat’s portfolio of plant-based proteins are sold at more than 35,000 retail and food service outlets worldwide.
The company is already operating in more than 25 countries, a spokesperson confirms to FoodIngredientsFirst. Investors in Beyond Meat include Tyson Foods, the US’ largest meat processor, actor Leonardo DiCaprio and Microsoft founder Bill Gates.
