Sumary of PepsiCo targets early 2022 to roll out products from joint venture with Beyond Meat:
- Ramon Laguarta, chief executive officer of PepsiCo Inc., stands for a photograph before a closing bell ceremony at a Nasdaq Inc. remote location in Atlanta, Georgia, on Friday, Feb.
- 1, 2019.Elijah Nouvelage | Bloomberg | Getty ImagesPepsiCo is hoping to release new plant-based snacks and drinks made through its joint venture with Beyond Meat by early 2022.”This is only the beginning of what I think is going to be a game-changing JV,” Pepsi CEO Ramon Laguarta told CNBC’s Sara Eisen.
- Pepsi and Beyond announced the joint venture, called The PLANeT Partnership, in January.
- The partnership gives Beyond, a relative newcomer to the food world, a chance to leverage Pepsi’s production and marketing expertise for new products.
- For its part, Pepsi can deepen its investment in plant-based categories — which are growing increasingly crowded — while working with one of the top creators of meat substitutes.
- It also helps Pepsi work toward its sustainability and health goals for its portfolio.