Beyond Meat Rises on Plan to Expand Across Supermarket Chains

Beyond Meat will add products and expand the brand’s in-store presence at stores across the U.S.
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Shares of Beyond Meat  (BYND) - Get Report rose Thursday after the plant-based-protein company said it was expanding its presence for products like Beyond Meatballs and Beyond Breakfast Sausage Links across supermarket chains including Kroger  (KR) - Get Report, Target  (TGT) - Get Report and Giant Food ADRNY.

Shares of the El Segundo, Calif., company at last check rose 4% to $135.50.

Beyond Meat will expand its presence to meet increased demand, the company said.

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Beyond Meatballs will be newly available at 1,500 Kroger stores, 750 Target stores and 163 Giant Food stores.

Beyond Breakfast Sausage Links will be newly available at 1,500 Kroger stores, the alternative-meat maker said.

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Beyond Meat said that move would increase its retail presence, which currently sits at about 28,000 retail outlets across the U.S.

In addition, Beyond Meat said it would expand its frozen Cookout-Classic value pack to more than 3,000 of the company's current locations this month and next month.

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Those include Albertsons/Safeway  (ACI) - Get Report and Ahold's Stop & Shop as well as the closely held chains Stew Leonard's and Wegmans, among other food stores.

On Wednesday, Beyond Meat said it planned to open a manufacturing facility in China, its first end-to-end plant outside the U.S, to speed up distribution in the region.

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