The PLANeT Partnership: Beyond Meat and PepsiCo Jointly Pilot Plant-Based Snacks and Beverages
Beyond Meat and PepsiCo have linked up in a significant move that will create and scale up an array of plant-based selections for the snacks and drinks aisles. The meat alternatives player and beverage giant have coined their new joint venture operations The PLANeT Partnership. The project will leverage Beyond Meat’s food processing technologies and PepsiCo’s marketing and commercial capabilities. The financial terms of the partnership were not disclosed.
“We look forward to together unlocking new categories and product lines that will inspire positive choices for both people and planet,” says Ethan Brown, Beyond Meat founder and CEO. “PepsiCo represents the ideal partner for us in this exciting endeavor, one of global reach and importance.”
Ram Krishnan, PepsiCo’s global chief commercial officer, pegs plant-based proteins as representing a “new frontier” in the company’s race to build sustainable food systems. The Cheetos, Doritos and Lay’s manufacturer declined to provide further comment on the distinctive NPD to be rolled out under the new joint venture.
Earlier this month, PepsiCo announced its plans to double its science-based climate goal. It is now targeting an absolute reduction of greenhouse gas emissions across its value chain by more than 40 percent by 2030. Among the key pillars of PepsiCo’s sustainability targets is the expanded use of ingredients grown and harvested with tools and techniques like regenerative agriculture and net water- and carbon-neutral production plants.