McDonald's will debut its line of plant-based meat alternatives - the McPlant - in 2021.
The burger chain has teamed up with Beyond Meat to create a patty, the Los Angeles-based company has said.
"Beyond Meat and McDonald's co-created the plant-based patty which will be available as part of their McPlant platform," a Beyond Meat spokesperson said in an email.
Their shares dropped by 8% once McDonald's announced its latest venture - but picked up again by 4% after the plant-based meat company announced its role in co-creating the patty.
McDonald's - which earlier reported market-beating profit and revenue for the third quarter - has declined to comment on which supplier it is using for its faux meat products.
Nor did it provide further details.
Beyond Meat was the frontrunner for a veggie product contract as it had conducted tests for the "P.L.T." burger at 100 restaurants in Ontario, Canada.
"Plant-based products are an ongoing consumer trend. It's not a matter of if McDonald's will get into plant-based, it's a matter of when," McDonald's chief executive officer Chris Kempczinski said.
McDonald's competition - other brands including Burger King, White Castle and Dunkin' Brands Group Inc - also offer vegan alternatives.
This move from McDonald's is expected to place the plant-based meat movement at the forefront in mainstream American society.
The chain says under its new line it could offer burgers, chicken substitutes and breakfast sandwiches - which it expects to test in some stores from 2021.
https://news.google.com/__i/rss/rd/articles/CBMiXmh0dHBzOi8vbmV3cy5za3kuY29tL3N0b3J5L21jZG9uYWxkcy10by1kZWJ1dC1wbGFudC1iYXNlZC1tZWF0LWFsdGVybmF0aXZlcy1mcm9tLTIwMjEtMTIxMjg5NTDSAWJodHRwczovL25ld3Muc2t5LmNvbS9zdG9yeS9hbXAvbWNkb25hbGRzLXRvLWRlYnV0LXBsYW50LWJhc2VkLW1lYXQtYWx0ZXJuYXRpdmVzLWZyb20tMjAyMS0xMjEyODk1MA?oc=5
2020-11-10 09:32:38Z
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