(Washington) start American Beyond Meat, which makes only vegan steaks and sausages, announced Thursday that it has signed partnerships with fast food giants McDonald’s and Yum! Brands (Kentucky, Pizza Hut, Taco Bell).
These partnerships qualify as “strategic” and cover a period of three years for McDonald’s and “several years” for Yum! Brands, in two separate editions.
Beyond Meat will be the main supplier of steaks at PLT, the vegan hamburger currently being tested in McDonald’s restaurants around the world.
They added that the two groups, which have been cooperating since 2019, also plan to explore and develop other dishes and products together, such as chicken, pork and egg options. The goal is to enable McDonald’s to offer a wide range of vegetarian products.
“This strategic agreement is an important step in our journey to provide high-quality menus and delicious vegetarian products to our customers,” said Francesca DiBiase, a McDonald’s executive.
As for yum! Brands, the group was the first to introduce vegan chicken alternatives through the KFC chain in 2019 in the US thanks to a collaboration with Beyond Meat. Last year, this was followed by a pizza offering, by Pizza Hut, with a vegetarian sausage offered by the youngster.
“We hope this (strategic) partnership with Beyond Meat will further strengthen our brands,” said Chris Turner, CFO, citing the press release.
The financial terms of the two agreements were not disclosed.