The Canadian coffee chain, Tim Horton, is testing vegan sandwiches using sausages made by Beyond Meat for their updated breakfast menu. This has led to the plant-based meat maker’s valuation to rise to another 16% on Wednesday. Know more here.
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Beyond Meat’s Valuation Rises After Coffee Chain, Tim Horton, Adds Vegan Sausages to Their Breakfast Offering
As the vegan option demand surges, the Restaurant Brands International Inc.’s Tim Horton begins testing new sandwiches as a breakfast option, which are to feature sausages made by Beyond Meat. Following the Canadian coffee chain’s announcement, Beyond Meat’s share has taken another 16% leap on Wednesday after the breakthrough performance in the first initial public offering (IPO), reports Reuters. As per the reports, the coffee chain will initially test the new menu item in selected Canadian locations. If tests go well, the same should be launched across the nation by the end of summer.
President of Tim Horton, Alex Macedo, said they’re ‘thrilled to partner’ with Beyond Meat as Canadians are increasingly including plant-based foods into their diets. Beyond Meat’s chief executive and founder, Ethan Brown, said the national roll-out would further kindle the company’s mission to make plant-based food more accessible to Canadians across the country.
Towards a Vegan Tomorrow
As the world inclines to a plant-based diet more than ever, there is a boom in the vegan food industry with exceptional offerings becoming available. Beyond Meat, and rival Impossible Foods, are leading the plant-based meat repertoire. They’re reaching newer heights everyday. According to Bloomberg, Beyond Meat is the second highest performer in the IPO this year in the US. On the same note, Impossible Foods touched $300m ($750m overall) in their latest fundraising with support from celebrities like Katy Perry, Jay-Z, and Serena Williams, among others.
Just recently, fast-food giant Burger King reportedly announced their plans to test run the Impossible Whopper (featuring Impossible Foods) in four newer markets. Also, Beyond Meat’s beef crumbles made their way into Del Taco’s vegan tacos alongside Carl Jr’s vegan cheeseburger. What do you think about Beyond Meat’s latest surge? Let me know your thoughts in comments.