Beyond Meat surges over 30% following PepsiCo deal

Tuesday, 26. January 2021 15:43

Beyond Meat jumped more than 30% after the opening bell on Tuesday as the company signed a deal with PepsiCo to establish The PLANeT Partnership, LLC (TPP) joint venture, aiming to manufacture snack and beverage products made from plant-based protein.

The project will be based on "Beyond Meat's leading technology in plant-based protein development and PepsiCo's world-class marketing and commercial capabilities," according to PepsiCo CEO Ram Krishnan.

The California-headquartered firm's shares surged 26.62% to sell for $200.99 at 9:41 am ET, reaching the highest level since June 2019.

Related Links: Beyond Meat Inc.
Author:
Breaking the News / GA