No, they’re not putting plant-based meat in soda.
PepsiCo is one of the absolute largest purveyors of snacks and drinks in the western world, if not the entire world. Besides their eponymous Pepsi sodas, they also own Frito-Lay snacks, Gatorade, Quaker oats, and Starbucks’ ready-made drinks. It wouldn’t be an exaggeration to say they’re in a pretty good striking position of almost any market they could want to break into. Any market except plant-based food, that is; they’re gonna need a little help on that one.
PepsiCo announced today that they would be teaming up with up-and-comer purveyor of plant-based protein Beyond Meat in a new tag-team effort to develop sustainable plant-based snacks and drinks for the hungry public. This tag-team, named the “PLANeT Partnership,” will combine Beyond Meat’s penchant for food wizardry with PepsiCo’s massive infrastructure to begin circulating healthy (or at least healthier) snacks all over the globe.
Beyond Meat is teaming up with Pepsi to develop plant-based snacks and drinks https://t.co/geqCmRq1UK
— Bloomberg (@business) January 26, 2021
“Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products,” said Ram Krishnan, PepsiCo Global Chief Commercial Officer, in a statement.
The precise details of the PLANeT Partnership are still deeply under wraps; we don’t know when they’ll start in earnest, where they’ll test their products, or what, precisely, they’ll even be making. For the moment, though, just the idea of the team-up has investors chomping at the bit, as Beyond Meat’s stock values shot up 31% on the announcement.