Investing.com - Beyond Meat products (NASDAQ: BYND) will soon become widely available in the most famous fast food restaurants - McDonald's (NYSE: MCD), as well as belonging to Yum! BRANDS (NYSE: YUM) - KFC (T: 3420), Pizza Hut and Taco Bell, reports The Motley Fool.
The company for the production of plant protein announced on Thursday, which signed with McDonald's a three-year agreement that Beyond Meat will be the preferred supplier of "meat" for the McPlant sandwiches. Partners also intend to develop and other menu items that will contain alternative protein. It can be pork products, chicken and vegetable eggs.
As for Yum!, As Beyond Meat, they will "jointly create and offer innovative menu products from vegetable proteins that can be found only in KFC, Pizza Hut and Taco Bell over the next few years." Beyond Meat did not disclose the financial conditions of any of the agreements.
None nor the other has become a surprise - Beyond Meat and McDonald's collaborate since 2019, when the fast food giant tested the product made with the Beyond Meat Pie. Cooperation with Yum! It began at the same time with the test launch of Beyond Fried Chicken in Georgia KFC.
Nevertheless, the current agreements are a big step forward for both joint projects. For these anchor transactions, further cooperation with network operators and franchising operators will be followed.
Also on Thursday, after the closure of the BEYOND MEAT market published results for the 4th quarter of 2020, which were worse than the forecasts of analysts. Revenue increased by almost 4% compared to the same period last year to $ 101.9 million, but net loss (adjusted, excluding GAAP) increased to $ 21.4 million or $ 0.34 per share. Analysts, however, expected the revenue will be $ 103.2 million, and a net loss per share - $ 0.13.
On Thursday, during the basic session, the company's shares lost 5.46%, today at a premark as of 13:50 MSK, they add 4.28%.
- In preparation used The Motley Fool
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