Mike Montemarano, Associate Editor 01.27.21
PepsiCo and Beyond Meat recently announced that they will be forming The PLANeT Partnership, LLC, a joint venture to bring snack and beverage products containing plant-based proteins to market. The joint venture will leverage Beyond Meat’s technology in plant-based protein development, and PepsiCo’s marketing and commercial capabilities to scale new snacks and beverages.
Financial terms of the partnership were not disclosed, and the joint venture’s operations will be managed through the newly-created LLC.
“Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products,” Ram Krishnan, PepsiCo global chief commercial officer, said. “Beyond meat is a cutting-edge innovator in this rapidly-growing category, and we look forward to combining their unparalleled expertise with our world-class capabilities in brand-building, consumer insights, and distribution to deliver exciting new options.”
Beyond Meat founder and CEO Ethan Brown expressed similar sentiment in the announcement.
“We are thrilled to formally join forces with PepsiCo in The PLANeT Partnership, a joint venture that unites the tremendous depth and breadth of their distribution and marketing capabilities with our leading innovation in plant-based protein,” Brown said. “We look forward to together unlocking new categories and product lines that will inspire positive choices for both people and the planet. PepsiCo represents the ideal partner for us in this endeavor, one of global reach and importance.”
PepsiCo said in the announcement that this new joint venture follows longstanding efforts to build a more sustainable food system, through the use of ingredients which can be grown and made sustainably using techniques such as regenerative agriculture, net water- and carbon-neutral production plants, and offering a wider selection of products for consumers focused on health and wellness. In addition to new product development, the company is acquiring companies with a more wellness-based focus, including companies such as Bare Snacks, BFY Brands, and SodaStream.
Like Beyond Meat’s other products, the new snacks and beverages the partnership creates will contain no GMOs or bioengineered products.
Financial terms of the partnership were not disclosed, and the joint venture’s operations will be managed through the newly-created LLC.
“Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products,” Ram Krishnan, PepsiCo global chief commercial officer, said. “Beyond meat is a cutting-edge innovator in this rapidly-growing category, and we look forward to combining their unparalleled expertise with our world-class capabilities in brand-building, consumer insights, and distribution to deliver exciting new options.”
Beyond Meat founder and CEO Ethan Brown expressed similar sentiment in the announcement.
“We are thrilled to formally join forces with PepsiCo in The PLANeT Partnership, a joint venture that unites the tremendous depth and breadth of their distribution and marketing capabilities with our leading innovation in plant-based protein,” Brown said. “We look forward to together unlocking new categories and product lines that will inspire positive choices for both people and the planet. PepsiCo represents the ideal partner for us in this endeavor, one of global reach and importance.”
PepsiCo said in the announcement that this new joint venture follows longstanding efforts to build a more sustainable food system, through the use of ingredients which can be grown and made sustainably using techniques such as regenerative agriculture, net water- and carbon-neutral production plants, and offering a wider selection of products for consumers focused on health and wellness. In addition to new product development, the company is acquiring companies with a more wellness-based focus, including companies such as Bare Snacks, BFY Brands, and SodaStream.
Like Beyond Meat’s other products, the new snacks and beverages the partnership creates will contain no GMOs or bioengineered products.
