Deals
Tyson Foods Exits Beyond Meat Ahead of Plant-Protein Maker's IPO
- Poultry producer says it will test its own meat alternatives
- Company says that ‘time was right to exit its investment’
Beyond Meat plant-based sausage
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
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.