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Beyond Meat (BYND) +4.45% after KFC (YUM) adds plant-based chicken to menu
Beyond Meat (BYND) shares traded up on Wednesday after fast-food giant KFC (YUM) said that it will add Beyond Fried Chicken to menus in the US from next week.
Beyond Meat (BYND) shares traded 4.45% higher on Wednesday on the news that its plant-based meat will be served by fast-food giant KFC (YUM) as Beyond Fried Chicken in select US locations.
With January being dubbed ‘Veganuary’ as people look to swap out meats for healthier alternatives, KFC has decided to add a new plant-based product to its menu two and a half years after an initial trial.
“This is really about where the customer is going; they want to eat more plant-based proteins,” KFC president Kevin Hochman said in a statement.
Beyond Fried Chicken will be a new recipe that attempts to replicate the taste, look and feel of KFC’s chicken products using a range of alternative ingredients.
Customers will be able to purchase the new menu item from participating KFC restaurants from Monday, 10th January.
They will have the option of selecting a plant-based meal with chips and a drink, or six or 12-piece standalone orders.
News of KFC and Beyond Meat’s collaboration comes three months after Hochman said that it was putting the finishing touches to the recipe for its plant-based ‘meat’.
A previous test run in Atlanta in mid-2019 proved to be very popular as the product sold out in several hours, as did subsequent larger tests in Southern California, Charlotte and Nashville.
The launch is also a milestone for Beyond Meat as it has worked for several years to bring a high-quality plant-based chicken to the market alongside its popular beef and sausage products, which use pea protein.
Investors were ready to buy into BYND on Wednesday as its shares climbed 4.45% in early trading, which pushed the price to $64.56.
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