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In recent news, the fast-food giant Kentucky Fried Chicken (KFC) announced a partnership with Beyond Meat. Together both companies are going to test plant-based nuggets and boneless wings.
Recently KFC announced a new rather interesting partnership. They have partnered with Beyond Meat, which is a plant-based meat substitute producer company. They are planning to do a one-day-only test, where they are going to test new fried plant-based nuggets and boneless wings. They call it – Beyond Fried Chicken.
This one-time offer will happen at a restaurant in Atlanta on August 27th. Each customer will receive a free sample every time they purchase something in the restaurant. Afterward, the customers will be asked for feedback so the company can decide whether to consider a broader test or even potentially expand nationally, according to Bloomberg.
This is not the first time KFC experiments with vegetarian options. The fast-food giant, which is also very popular internationally, has an “Impostor Burger” in the U.K. Menu. That particular burger is made from mushrooms and was developed by an English company Quorn.
“KFC is an iconic part of American culture and a brand that I, like so many consumers, grew up with. To be able to bring Beyond Fried Chicken, in all of its KFC-inspired deliciousness to market, speaks to our collective ability to meet the consumer where they are and accompany them on their journey. My only regret is not being able to see the legendary Colonel himself enjoy this important moment,” commented the founder and CEO of Beyond Meat, Ethan Brown.
Major Fast Food Chains Go Veggie
KFC is not a newcomer in the field of vegetarian alternatives. Many of the well-known fast-food chains now are offering plant-based meat substitutes to their customers.
For example, Burger King recently rolled out its Impossible Whopper to all of its U.S. stores. Also, Subway has announced that they are going to test the Beyond Meatball Marinara in 685 restaurants across the U.S. and Canada. Carl’s Jr. Joins the list with its meatless burger, also made by Beyond Meat, accompanied by White Castle, Dunkin’ Donuts, TGIFridays, Del Taco, and more.
All these giants are either partnering with Beyond Meat or with Impossible Foods. This fact sets these two companies up for a very tight competition.
Beyond Meat Goes Public
Earlier this year, Beyond Meat went public and reportedly said that they expect to be profitable within the end of the year.
Also, earlier in August, we reported that the company announced their secondary offering of shares at $160 which was an approximate 18% discount from the stock closing price at that time. However, it was more than six times higher than the IPO price which was charged less than three months ago. That indicates that the company had a huge boost in BYND stock price. At the offering, the company offered 250,000 shares from their side and 3 million from the existing shareholder side.
Some experts pointed out that this might be a way how early investors are trying to cash out their profits. But let’s be honest. Why wouldn’t they? Beyond Meat (BYND) stock price was up 686% since it went public.