Shares of meal-kit company Blue Apron (APRN - Get Report) surged more than 40% on Tuesday, marking its best day in six months after announcing it is partnering with meatless meat provider Beyond Meat (BYND) .
Blue Apron stock jumped 39%, or $2.95, to $10.72 in late-morning trading on the New York Stock Exchange after the company said it will begin introducing products from the alternative-meat start-up as part of its meal kits in August.
The allure of meatless burger and entrée options delivered via Blue Apron will likely assist both companies' longer-term sales prospects, Blue Apron's in particular, which has seen its stock plunge more than 90% since its 2017 IPO amid challenges finding and retaining customers.
Excited to share that we will be introducing Beyond Meat® on our Signature menu beginning in August! https://t.co/xIVg9ZgSBU— Blue Apron (@blueapron) July 16, 2019
Blue Apron will be offering Beyond Meat patties as part of its curated boxed-food deliveries starting August 19.
Meanwhile, Beyond Meat shares have gained almost seven-fold since their May debut as faux meat has taken off across restaurant and fast-food chains.
Beyond Meat extended those gains Tuesday, rising 3.25%, or $5.41, to $171.94 in late-morning trading. Beyond Meat will report its second quarter results on July 29.