- McDonald's <<MCD> >clarifies what the preferred supplier status of Beyond Meat (BYND +1.0%) means.
- The chain says restaurants in some of its markets are already working with other suppliers on plant-based menu items, and the chain will let that continue at their discretion.
- The Beyond Meat deal only applies to restaurants in the U.S. and the international operated markets segment, representing countries like Australia, Canada and the U.K. Restaurants running under in a developmental licensee market by third parties in places like China and Latin America, will be "encouraged" to choose Beyond Meat.
- BTIG analyst Peter Saleh: "We note that currently McDonald's is not promoting this product as a Beyond Burger, but rather as a McPlant with no mention of Beyond on the menu. While we continue to believe in the long-term consumer adoption of plant-based meat, we don't expect the Beyond Burger to be tested or make its debut in the U.S. in 2021, as McDonald's and the industry remains focused on chicken."
- BYND has given much of its gain from yesterday in the AH session when the McDonald's and Yum deals were announced.