McDonald’s McPlant burger
Source: McDonald’s
McDonald’s is expanding testing of the plant-based McPlant burger, created as part of a partnership with Besides meat.
Starting February 14, the fast food giant will roll out burgers at approximately 600 locations in the San Francisco Bay and Dallas-Fort Worth area to learn more about consumer demand for the menu. potential. The trial started in November with just eight restaurants, so the chain can understand the impact on its operations.
The announcement is the latest step in McDonald’s cautious approach to the plant-based meat trend. The company has taken the time to learn more about the longevity of meat substitutes and consumer demand, even as other fast food chains race to add the trendy item to their menus. Example: rival Burger King, owned by International restaurant brand, more Whopper can’t get into its menu more than two years ago.
The McPlant burger uses a pate made of peas, rice, and potatoes to mimic the taste and texture of beef. Toppings include mayonnaise and American cheese. Customers in the two test markets will be able to purchase the burgers for a limited time while stocks last.
For Beyond Meat, a larger trial is a huge opportunity to impress consumers with its meat alternatives, even though it represents only a fraction of McDonald’s 14,000 restaurants. in U.S.A. Wall Street analysts have been bearish on the stock, saying the company is struggling with competition and falling US grocery sales.
In preparation for a larger launch with McDonald’s and other fast food items on the menu this year, Beyond hired Tyson Foods veteran Doug Ramsey as chief executive in December. On his team at the meat producer, Ramsey oversaw the company’s sourcing relationship with McDonald’s.
McDonald’s and more announced a three-year partnership in February. The burger chain has started selling McPlant burgers in several international markets, including Sweden, Denmark, Austria, the Netherlands and the UK. Before the official announcement of the McPlant . line, McDonald’s tested a meatless burger using patty Beyond at several dozen restaurants in Canada in September 2019. By April of next year, the chain ended the pilot program and has since said it did not. plans to bring back the PLT burger.
Shares of Beyond rose 2% in pre-market trading. The stock has fallen 54% in the past 12 months, cutting its market value to $4.08 billion.
Shares of McDonald’s were up less than 1% in pre-market trading. Shares of the burger chain have risen 19% over the same period, giving it a market value of $197 billion.
