Tyson Foods sells stake in Beyond Meat
Tyson Foods announced plans develop its own line of alternative protein products.
Tyson Foods Inc., Springdale, Ark., sold its 6.5% stake in Beyond Meat, El Segundo, Calif., to reportedly develop its own line of alternative protein products through Tyson Ventures.
“Tyson Ventures has decided the time is right to exit its investment. Beyond Meat provided an early opportunity for Tyson Ventures to invest in plant-based protein products that many consumers are seeking. We wish the leadership of Beyond Meat all the best,” Tyson Foods said in an email statement. “Tyson Foods continues to be committed to providing alternative protein as a choice for consumers, and recently announced the creation of a new business focused on combining our creativity, scale and resources to make great tasting protein alternatives more accessible for everyone. We plan to launch an alternative protein product soon, with market testing anticipated this summer.”