After exiting Beyond Meat, Tyson Foods said that it will roll out its own plant-based meat substitutes beginning this summer.
The Jimmy Dean owner sold its stake in Beyond before the company went public, citing its desire to produce vegetarian meat substitutes under its own umbrella of brands. CEO Noel White told analysts on the quarterly conference call Monday that the plant-based product will launch this summer on a limited basis, with a wider rollout in October and November.
Following Tyson’s announcement, Beyond Meat’s stock opened down 6% before rebounding as high as 7% against steeper losses in the broader market.
To read the rest of the story, please go to: CNBC
