Meat processor Tyson Foods invests in plant-based protein maker
Reuters
Published Oct 10, 2016 05:24PM ET
Meat processor Tyson Foods invests in plant-based protein maker
(Reuters) - Tyson Foods Inc (N:TSN), the largest U.S. meat processor, took a 5 percent stake in plant-based protein maker Beyond Meat amid growing pressure on food companies to reduce environmental and health risks by changing the way they source protein.
Terms of the deal were not disclosed.
Manhattan Beach, California-based Beyond Meat sells plant-based burger patties, heat-and-eat meals and non-GMO soy and pea protein frozen foods at grocery chains such as Whole Foods Market Inc (O:WFM), Publix, Albertsons Cos Inc's (N:ABS) Safeway.
Other investors in the company include Bill Gates, the Humane Society of the United States, General Mills Inc's (N:GIS) venture capital arm 301 Inc and venture capital firm Kleiner Perkins.
A group of 40 investors managing $1.25 trillion in assets launched a campaign in September asking 16 companies such as Wal-Mart Stores Inc (N:WMT), Unilever (L:ULVR) and Whole Foods to respond to the risks of industrial farming. Wal-Mart is Tyson's biggest customer, accounting for almost 17 percent of sales for the year ending Oct. 3, 2015. The campaign followed an Oxford University study which said $1.5 trillion in healthcare and climate change-related costs could be saved by 2050 if people reduced their reliance on meat.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.