Beyond Meat said its Beyond Sausage Hot Italian will be added to the fresh meat aisle of around 400 Walmart stores, alongside the expanded distribution of its Cookout Classic value-pack to around 500 locations. The moves follow Beyond Meat's recent marketing deals with PepsiCo (PEP) , McDonald's (MCD) and YUM! Brands (YUM) which the group hopes will accelerate revenues following a disappointing second quarter.
Beyond Meat first unveiled its broader ambitions with Walmart following its second quarter earnings in August of last year.
“We are thrilled by the continued growth with Walmart and the opportunity to offer Walmart customers increased accessibility to a larger selection of our delicious and better-for-you plant-based products,” said Beyond Meat's chief growth officer Chuck Muth. “As more households continue to buy our products and buy them more frequently, we’re excited to satisfy the growing demand through increased product offerings and distribution.”
Beyond Meat shares were marked 3% higher in early trading Tuesday to change hands at $139.10 each, a move that would nudge the stock into positive territory for the past six months.
Beyond Meat and Pepsi reached a partnership deal to produce and market a new line of snacks in late January when they formed the PLANeT Partnership LLC, a joint venture that will leverage PepsiCo's marketing with Beyond Meat's plant-based food production technology.
Earlier that month, Yum! Brands said its Taco Bell division is exploring a partnership with Beyond Meat for a new plant-based product that will be tested next year. Late last year, Pizza Hut said it partnered with Beyond Meat to offer two plant-based-meat pizzas for a limited time.