McDonald’s announcement of a plant-based line called “McPlant” caused confusion among investors as to whether Beyond would be a supplier to the largest US restaurant chain after sales. The company made the meatless burger patty for a McDonald’s test in Ontario.
The fast food giant declined to give CNBC details of its suppliers for the upcoming products.
“We have a relationship with Beyond Meat, where they helped us in our Canadian test market,” McDonald’s CEO Chris Kempczinski told CNBC’s Carl Quintanilla. “We haven’t yet made a decision about how we will be and which suppliers will support our global rollout. So I don’t want to comment on that. ”
However, a spokesman for Beyond said in a statement to CNBC that the company had partnered with McDonald’s to create a meat-free patty that will be available as part of McPlant.
Speaking to Beyond’s results conference call Monday night, JP Morgan analyst Ken Goldman told Beyond CEO Ethan Brown that Brown “scared people a little” for not giving investors substantial details about what In addition, it could be an important source of growth.
In a response to Goldman, Brown said that from his own observations, McDonald’s may have wanted to put the spotlight on Investor Day and the announcement of Beyond as a supplier could have disrupted that focus. He also said he would wait to work with McDonald’s before adding any further comments on Beyond’s role in McPlant.
“I’m going to say this: everything we’ve said is true,” said Brown. Beyond has built a “very long-term” relationship with McDonald’s, including creating the burger, which will be part of McPlant. It is up to the chain to decide on the extent of the cooperation.
These were the details of the news According to analysts, McDonald’s ‘McPlant’ news terrified Beyond Meat investors for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at de24.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.