Beyond Meat share price soars as KFC trials vegan ‘chicken’
Shares in Beyond Meat soared yesterday after KFC announced it was trialing a plant-based alternative to fried chicken.
The fast food giant said the new product – known as Beyond Fried Chicken – would be available today at one of its Atlanta restaurants, with customer feedback determining whether it gets a further test or national rollout.
Read more: Greggs cooking up vegan versions of all its most popular products
Investors ate up news of the partnership, with Beyond Meat shares closing 5.64 per cent up yesterday at $155.13 (£126.89).
Beyond Fried Chicken will be available in the form of nuggets or boneless wings – the first time a plant-based fried chicken alternative has been introduced at a national fast food restaurant in the US.
“KFC Beyond Fried Chicken is so delicious, our customers will find it difficult to tell that it’s plant-based,” said KFC US president and chief concept officer, Kevin Hochman.
“To be able to bring Beyond Fried Chicken, in all of its KFC-inspired deliciousness to market, speaks to our collective ability to meet the consumer where they are and accompany them on their journey,” said Beyond Meat founder and chief executive Ethan Brown.
“My only regret is not being able to see the legendary Colonel himself enjoy this important moment,” Brown added.
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Demand for meat substitutes has been growing as more people adopt vegan diets, or try to reduce their meat consumption, for ethical or environmental reasons.
UK bakery Greggs said last week it was developing vegan versions of all its most popular products, after the runaway success of its vegan sausage roll, which was introduced in January.
Main image credit: KFC