Beyond Meat news about the company signing a deal with Tim Hortons has BYND stock up on Thursday.
Beyond Meat (NASDAQ:BYND) has a new deal with Tim Hortons that will have the Restaurant Brands International (NYSE:QSR)-owned coffee chain serving its Beyond Breakfast Sausage. This is a plant-based substitute for normal sausage.
According to the Beyond Meat news, the test will have Tim Hortons trying out Beyond Breakfast Sausage at select locations. These locations will be offering the Beyond Breakfast Sausage in some of their sandwiches. These include the Beyond Meat Breakfast Sandwich, Beyond Meat Farmers Breakfast Wrap and Beyond Meat Vegan Sandwich.
“Canadians are looking to incorporate plant-based options into their diets and we’re thrilled to partner with Beyond Meat to test three Beyond Meat Breakfast Sandwiches — including an entirely vegan offering if the market test confirms the potential we see for the platform,” Alex Macedo, President of Tim Hortons, told CNBC.
The Beyond Meat news isn’t the first time that a Restaurant Brands International chain has offered plant-based substitutes for meat. Burger King, which also belongs to QSR, has been testing out the Impossible Whopper. This is a plant-based burger that comes from Impossible Foods, which is a rival of BYND.
BYND stock was up 5% and QSR stock was up 2% as of noon Thursday. BYND stock is also up 32% since its IPO earlier this month.
As of this writing, William White did not hold a position in any of the aforementioned securities.