Beyond Meat (BYND) JV With Pepsi (PEP) Is Non-Event Says Wells Fargo, Remains Underweight Beyond Meat
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PepsiCo and Beyond Meat® Establish The PLANeT Partnership, LLC, a Joint Venture to Introduce New Plant-Based Protein Offerings
January 26, 2021 8:30 AM ESTPURCHASE, N.Y. and EL SEGUNDO, Calif., Jan. 26, 2021 /PRNewswire/ -- PepsiCo, Inc. (NASDAQ: PEP) and Beyond Meat, Inc. (NASDAQ: BYND) today announced they will form The PLANeT Partnership, LLC (TPP), a joint venture to develop, produce and market innovative snack and beverage products made from plant-based protein. The joint venture will leverage Beyond Meat's leading technology in plant-based protein development and PepsiCo's world-class marketing and commercial capabilities to create and scale new snack and beverage options. Financial terms of the partnership were not disclosed. Joint venture operations will be managed through the newly created entity The PLANeT Partnership, LLC... More
