According to the report, the joint venture of PepsiCo and Beyond Meat known as ‘The PLANeT’ has been planning to launch a jerky, which is plant-based as the company’s first product. Both Beyond Meat and PepsiCo has announced the joint venture around a year ago with the goal of the creation of the snacks and drinks based on the plants together.
The partnership has also been giving Beyond Meat, a chance for leveraging the production and marketing expertise of PepsiCo for the new products, and for that part, the company ‘PepsiCo’ can possibly deepen the investment of the company in the plant-based categories that are now growing increasingly as it is working with one of the top creators of the substitutes of meat, and it is also going to be helping PepsiCo for working towards the goals of sustainability and health for the portfolio.
Ramon Laguarta, chief executive officer of PepsiCo said that, the company is now targeting for the launch of the company’s first product from the partnership with Beyond Meat, and Dan Moisan and been selected as the chief executive for the joint venture.
Both the companies are going to be facing some competition in the market of vegan jerky, and the shares of the Beyond Meat had been slightly down in the extended trading, as the stock of PepsiCo had also been unchanged.
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