PepsiCo and Beyond Meat are forming The PLANeT Partnership LLC (TPP) this week, announced. A joint venture to develop, produce and market innovative plant-based protein snack and beverage products.
Beyond Meat, known for its meat alternatives, and beverage and snack giant PepsiCo, using plant-based substitutes, will jointly create, produce and sell snacks and beverages. For this very purpose, the two companies have formed The PLANeT Partnership.
The joint venture will also, utilize Beyond Meat’s leading plant-based protein development technology. And the world-class marketing and commercial capabilities of PepsiCo to create and scale up new options for snacks and drinks. Also, The partnership’s never disclosing financial terms. Through the newly created TPP manages, joint venture activities.
Moreover, The new joint venture follows PepsiCo’s long-standing efforts to help build a food system that is more sustainable. Positive ingredients are among the key pillars of that effort; expanding the company’s portfolio of products that have been sustainably grown and produced through tools and techniques such as regenerative agriculture and net water and carbon neutral production plants; and making it easier for health and wellness-focused consumers to consume products on the go through innovations such as LAY’s.
“PepsiCo is the ideal partner for us in this exciting venture, which has global reach and global importance,” said Ethan Brown, CEO of Beyond Meat.
