Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   

Agricultural News


Tyson Getting Out of Plant Based Beyond Meat But Signals Plans to Starting Their Own Alternative Protein Product Line

Wed, 24 Apr 2019 14:08:55 CDT

Tyson Getting Out of Plant Based Beyond Meat But Signals Plans to Starting Their Own Alternative Protein Product Line Tyson Foods Inc. has sold its 6.5 percent stake in Beyond Meat as the maker of plant-based protein products prepares for a public offering next week.

“Tyson Ventures is pleased with the investment in Beyond Meat and has decided the time is right to exit its investment,” the company said in an email, adding it plans to launch its own alternative protein product soon and expects to conduct market testing this summer.

Tyson’s investment arm originally purchased a 5 percent stake in the startup in October 2016, before increasing that to 6.5 percent. Beyond Meat seeks to raise as much as $184 million in an IPO. The company’s plan to sell 8.75 million shares at $19 to $21 each would give it a market value at about $1.2 billion, according to filings.

Consumers are looking for more plant-based meat alternatives because of concerns about health, animal welfare and the environment. Startups like Beyond Meat and Impossible Foods are tapping into that demand by offering beef-like versions of the veggie burger and other meat products. Supermarket sales of meat alternatives surged 19.2 percent to $878 million for the year ended Jan. 5, 2019, according to data from Nielsen.

Beyond Meat is sold in grocery stores nationwide and is also increasingly being featured on restaurant menus. On Thursday, Del Taco Restaurants Inc. will start selling Beyond Meat tacos at its 580 U.S. stores after they passed the taste test with customers. Del Taco now has seven stores in Oklahoma.

As Tyson ramps up its in-house veggie burger business, it still has a foot in meat alternative startups, with stakes in cultured meat makers like Jerusalem-based Future Meat Technologies and Memphis Meats, which boasts Bill Gates, Richard Branson and Cargill Inc. as investors.

Regular meat isn’t going away though, with U.S. government data showing per capita beef consumption is growing despite the rising popularity of alternative meat products. Global demand is also rising.


   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Oklahoma Farm Bureau's Rodd Moesel Talks About the Importance of the Passage of USMCA   Fri, 24 May 2019 17:47:29 CDT
  • OSU's FAPC Explains How to Ensure Food and Beverages are Safe to Consume After a Flood  Fri, 24 May 2019 16:21:27 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Friday, May 24, 2019   Fri, 24 May 2019 16:11:28 CDT
  • Oklahoma Cattlemen’s Foundation Launches a Flood Relief Fund for Cattlemen Affected by Flooding  Fri, 24 May 2019 16:01:15 CDT
  • Placements End Up Being Friendly in the May First Cattle on Feed Report- Dr. Derrell Peel Offers His Analysis  Fri, 24 May 2019 16:35:07
  • Governor Stitt Signs General Appropriations Bill for FY2020, Including $3.29 Million for Ag, Rural OK  Fri, 24 May 2019 14:39:53 CDT
  • Friday Afternoon Market Wrap-Up with Carson Horn  Fri, 24 May 2019 14:21:45 CDT
  • OK's 2019 Legislative Session Wraps Up, OKFB's Steve Thompson Recaps on Ag's Many Victories  Fri, 24 May 2019 14:45:08 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Herbs Herb Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com


       
       
    © 2008-2019 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.