• Latest News
  • Restaurant News
  • Hotel News
  • Catering News
  • Chef News
  • Pub & Bar News
  • Supplier News

Hospitality & Catering News

hospitality and catering news

QSR giants McDonald’s and Yum! agree global deals with Beyond Meat

February 27, 2021

Beyond Meat this week announced a global strategic partnership with Yum! Brands to co-create and offer plant-based protein menu items at KFC, Pizza Hut and Taco Bell over the next several years.

The same day a three-year global strategic agreement with McDonald’s was simultaneously announced seeing Beyond Meat become the preferred supplier for the patty in the McPlant plant-based burger.

Beyond Meat and McDonald’s will also explore co-developing other plant-based menu items – like plant-based options for chicken, pork and egg – as part of McDonald’s broader McPlant platform.

KFC was the first US quick-service restaurant to introduce plant-based chicken, and Pizza Hut US becoming the first national pizza chain to introduce a plant-based meat pizza coast-to-coast.

The agreement further solidifies the relationship between McDonald’s and Beyond Meat, which began in 2019 with the Canadian test of a sandwich made with Beyond Meat’s plant-based patty.

At the end of 2020 Beyond Meat had products available in circa 122,000 retail and foodservice outlets in over 80 countries worldwide. These new deals will doubtless see foodservice rise significantly.

The announcements follow Beyond Meat releasing their Full Year 2020 Financial Results.

  • Net revenues were $406.8 million, an increase of 36.6% year-over-year.
  • Gross profit was $122.3 million, or gross margin of 30.1% of net revenues – Adjusted gross profit was $133.7 million, or Adjusted gross margin of 32.9% of net revenues, reflecting exclusion of expenses attributable to COVID-19.
  • Net loss was $52.8 million, or $0.85 per common share – Adjusted net loss was $37.1 million, or $0.60 per common share, reflecting exclusion of expenses attributable to COVID-19.
  • Adjusted EBITDA was $11.8 million, or 2.9% of net revenues.

News from the hospitality and catering industry is also being featured extensively in our Facebook and twitter social media accounts with the opportunity to engage with others in hospitality and share your views.

Hospitality & Catering News: QSR giants McDonald’s and Yum! agree global deals with Beyond Meat. – 27 February 2021 – QSR giants McDonald’s and Yum! agree global deals with Beyond Meat.

Copyright: All content in Hospitality & Catering News is protected by copyright.

Email Newsletter

Subscribe to our email newsletter and keep a close eye on the UK hospitality and catering business

Hospitality & Catering Jobs

LBC’s James O’Brien reports on the people and skills shortages in hospitality

https://www.hospitalityandcateringnews.com/wp-content/uploads/2021/04/james-obrien-27-april.mp3

Join our growing email newsletter community by subscribing here

Join our growing email newsletter community by subscribing here

Contact H&C News

  • Facebook
  • Twitter

Search h&C NEWS

Supplier News

Country Range roll out striking refresh and New Signature Collection

35 years in commercial cleaning and maintenance: The TWO Services story…

Kitchen Porters Club Job of the Week, 30K plus role at Royal Automobile Club

lunch! reveals the café innovators to meet at the show

Fish on Friday with Krombacher Beer Batter Recipe

How hospitality and catering operators warewash sustainably

Krombacher drives further interest with Team HARD Racing Sponsorship

Financial return & Carbon savings: Discover the value in your unwanted items

Kitchen Porters Club Job of the Week, with Harrods

The Benefits of Switching to an Electric Vehicle

Krombacher Dark & Chocolate Cupcakes Recipe

Kitchen Porters Club Job of the Week, with Fooditude

News Categories

  • Latest News
  • Restaurant News
  • Hotel News
  • Catering News
  • Chef News
  • Pub & Bar News
  • Supplier News
Home | Privacy | Sitemap

Copyright © · Hospitality & Catering News