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PepsiCo & Beyond Meat partner up in the plant movementINTL

PepsiCo & Beyond Meat partner up in the plant movement

Sure, a duckling and a puppy make for unlikely friends, but have you heard of PepsiCo (PEP) and Beyond Meat’s (BYND) new relationship?

That’s right, PepsiCo and Beyond Meat are joining forces to create a series of plant-based products under a joint venture named PLANeT Partnership. The two companies will reportedly collaborate on an array of new snacks and drinks, although the juicy details of the deal weren’t announced.

Beyond Meat recently saw its stock plunge after its recent partnership with  McDonald’s (MCD) went sour. They had collaborated on the McPlant, a plant-based alternative to their meat burgers, but news pointed to a fall-out, prompting its share price to drop. This new relationship with PepsiCo seems to have the maket’s approval, as Beyond Meat’s shares closed around 18% higher on Tuesday.

why it matters
This is a symbiotic relationship for those involved as it enables Pepsi to enter the plant-based protein world (which has grown massively crowded in the last few years as people turn to meat alternatives) via an established brand, and allows Beyond Meat to benefit from the conglomerate’s marketing and manufacturing expertise.