Tyson Foods Parts with Beyond Meat, Looks Into Other Alternative Protein

Tyson Foods has sold its 6.5 percent stake in Beyond Meat ahead of the plant-based protein company's IPO, reports Bloomberg. Tyson's investment arm, Tyson Ventures, invested a total of $23 million in Beyond Meat across two funding rounds. "Tyson Ventures is pleased with the investment in Beyond Meat and has decided the time is right to exit its investment,” the company said in a statement.

Tyson also revealed that it plans to launch its own alternative protein product soon. Market testing is likely to begin this summer. Tyson is still maintaining its presence in the alternative protein startup market through stakes in the cultured meat companies, including Jerusalem-based Future Meat Technologies and Memphis Meats, according to the report. Full Story

Related: Tyson Creates Meat Traceability Program; Tyson to Enter Alternative Protein Business.

from Specialty Food News http://bit.ly/2VrJa1M