|Bid||130.05 x 1000|
|Ask||0.00 x 900|
|Day's Range||130.68 - 136.85|
|52 Week Range||45.00 - 239.71|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||163.67|
Carl’s Jr.®, known for craveable menu items, is excited to expand its partnership with Beyond Meat® to launch an innovative new menu item – the Beyond BBQ Cheeseburger – available at participating restaurants beginning October 9, 2019. Drawing on the success of its Beyond Famous Star, the restaurant developed a new burger build meant to complement the Beyond Burger™ patty, while drawing on the flavors of its famed Western Bacon Cheeseburger. The new Beyond BBQ Cheeseburger will feature some of the restaurant’s most popular ingredients including a Beyond Burger patty topped with Carl's Jr. original BBQ sauce, American cheese, crispy onion rings, all on a sesame seed bun, for an indulgent flexitarian option that turns BBQ on its head with a plant-based spin.
(Bloomberg) -- In the world of artificial meats, you can’t get more alien than growing your beef in space.That’s what the Israeli startup Aleph Farms showed might be possible in an experiment on the International Space Station last week, where it grew small-scale muscle tissue from bovine cells using equipment made by the Russian company 3D Bioprinting Solutions.“We are working on a new method to produce the same meat, but in a way that uses less than half of the greenhouse gasses,” said Didier Toubia, co-founder and chief executive officer of Aleph Farms, noting that the experiment was preliminary and just a proof of concept. “The experiment in space shows that meat can be cultivated in the harshest conditions, meaning anywhere, anytime and for anyone.”Consumers, cutting down on meat intake for dietary reasons or concern for environment, have already been introduced to plant-based burgers, sausage and other meat-like products.Beyond Meat Inc., a company that touts its production process as more humane and sustainable than livestock production, has seen its stock soar since its early May debut price. The market for such plant-based products is expected to reach $27.9 billion by 2025 according to research firm Markets and Markets, and Beyond Meat already competes with Impossible Foods Inc. Kellogg Co., Nestle and Tyson Foods Inc., among others.While partly a publicity stunt, the experiment’s goal was to help the Aleph Farms advance its research into meat production in harsh conditions without depending on natural resources, the company said. The U.S.-based Meal Source Technologies and Finless Food also participated in the experiment. While Aleph Farms’ proof of concept in space was successful, even on Earth it will take at least three years before consumers will be able to buy its steaks or burgers, according to company estimates.“The mission of providing access to high-quality nutrition anytime, anywhere in a sustainable way is an increasing challenge for all humans,” said Jonathan Berger, CEO of The Kitchen accelerator that co-founded Aleph.Aleph Farms, which has raised about $13 million, has investors including Israel’s Strauss Group, Cargill Inc., New Crop Capital, and Vis Vires New Protein.(Updates with names of other companies involved in the experiment)To contact the reporter on this story: Gwen Ackerman in Jerusalem at firstname.lastname@example.orgTo contact the editors responsible for this story: Riad Hamade at email@example.com, Giles TurnerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Campbell Soup did a hatchet job on fresh food seller Bolthouse Farms. Now the brand is back under new ownership.
There weren't enough Beyond Meat burgers to keep up with demand from German consumers this summer, so grocery chains made their own generic versions.
It's been a rough year for the IPO market. While most promising unicorns have sputtered out of the gate, one analyst has a reason to be optimistic going forward.
What investors need to know about newly public Peloton (PTON). And a broader look at what's going on with some other 2019 IPOs such as Uber (UBER) and Beyond Meat (BYND) to help make sense of the WeWork debacle and more.
Beyond Meat starts its test run in 28 McDonald's outlets in Canada today. The fast-food giant plans to test the P.L.T. burger for 12 weeks.
MamaMancini's Holdings, Inc. (MMMB), a marketer of specialty pre-prepared, frozen and refrigerated all-natural food products, has entered into a strategic partnership with Beyond Meat, Inc. (BYND). MamaMancini's customers nationwide will have the opportunity to experience the world’s first plant-based ground meat, that delivers on the versatility, meaty texture and juiciness of ground beef, while enjoying the nutritional and environmental benefits of eating plant-based protein products. Currently, MamaMancini’s products are sold at 45,000 locations in food retailers across the country and in the second fiscal quarter of 2020 ending July 31, 2019, MamaMancini grew its sales by 44% to $8.1 million.
Plant-based fast food has been the latest craze as diners become more conscious of how their food is sourced and its impact on the environment, giving a big boost to Beyond Meat and Impossible Foods, two of the biggest players to launch faux meats. BEYOND MEAT: The company has captured a wide audience for its imitation meat patties and sausages made of protein from peas, brown rice, sunflower seeds and mung beans that have a non-genetically modified organism verification. The burger chain will test its P.L.T or the plant, lettuce and tomato burger, a play on the traditional bacon, lettuce and tomato sandwich, in southwestern Ontario, Canada.
A new trade deal between the U.S. and Japan. Beyond Meat (BYND) stock soars on McDonald's (MCD) deal. A preview of memory chip giant Micron's (MU) Q4 earnings. And why La-Z-Boy (LZB) is a Zacks Rank 1 (Strong Buy) stock - Free Lunch
(Bloomberg) -- Tilman Fertitta had to wait to land his prize.The billionaire owner of casinos, restaurants and the NBA’s Houston Rockets had coveted Del Frisco’s Restaurant Group Inc. since 2012. This summer it looked improbable that his Landry’s Inc. restaurant group would get a shot. Private equity firm L Catterton had struck a deal to acquire the high-end chain in June and, as recently as Tuesday, bankers were busy trying to sell debt to fund the transaction.But, in a surprise twist, Fertitta popped up to snare the coveted steakhouses.L Catterton completed its $650 million purchase Wednesday, but immediately announced it was selling Del Frisco’s Double Eagle Steakhouses and Del Frisco’s Grilles to Landry’s for an undisclosed sum. The buyout firm will keep bartaco, a purveyor of tacos and tequila, and Barcelona Wine Bar brands.“It’s something that I’ve looked at for years and sometimes you just have to wait for the deal to come back to you,” Fertitta, 62, said in a phone interview.Del Frisco’s operates more than 35 restaurants, including Del Frisco’s Double Eagle in Midtown Manhattan, a favorite with the finance crowd, offering its signature 45-day dry-aged double-bone prime ribeye for $140 and a tasting of three wagyu steaks at $205.It also has locations in Boston, Philadelphia, Dallas and Houston, and one in Washington that caters to lobbyists and politicians. On the night of the deal, a sign indicated that Republican Senator Pat Toomey of Pennsylvania was there.Despite the chain’s popularity with Wall Street, bankers labored to sell $425 million of debt to fund L Catterton’s buyout. Credit Suisse Group AG offered an all-in yield of 9.6%, people familiar with the matter said this month. But with concerns growing about the effects a potential recession may have on a cyclical business, especially expensive steakhouses and wine bars, some investors remained skeptical.A spokeswoman for L Catterton declined to comment.Fertitta, who’s worth $3.9 billion according to the Bloomberg Billionaires Index, also said he couldn’t comment on why L Catterton sold the assets, but he’s a big believer in steak.The Houston businessman already owns nine steakhouse chains, including Morton’s and Mastro’s. He even opened a female-focused one with actress Eva Longoria in 2013 that’s now closed. Fertitta said he’s willing to put more equity into the Del Frisco’s business and isn’t concerned about the long-term prospects, including the threat from meat substitutes.“I’ll do whatever I need to do,” said Fertitta, who’s also the chairman and chief executive officer of Fertitta Entertainment, which operates the Golden Nugget casinos. “Steak’s always gonna be the most popular food in the world.”Fertitta may see a challenge from meat substitutes as consumers flock to restaurants for plant-based burgers from Beyond Meat Inc. and Impossible Foods Inc. Fertitta said the hype of meatless burgers is overblown and that consumers will return to red meat once they realize the products aren’t as healthy as they’re made out to be. Still, he’s open to serving the trendy plant-based product “if the customers want them,” he said. Fertitta, who counts Jefferies Financial Group Inc. head Richard Handler as a close friend, used the bank as Landry’s lead adviser on the deal, along with Deutsche Bank Securities and North Point Advisors.(Updates with opinion on meatless burgers in 13th paragraph.)To contact the reporters on this story: Austin Weinstein in Washington at firstname.lastname@example.org;Sally Bakewell in New York at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Peter Eichenbaum, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
McDonald's stock was up marginally. The world's largest burger chain joins Tim Hortons, KFC and Dunkin' Brands in adding products made with Beyond Meat patties to their menus. As consumers grow more concerned about health and the impact of industrial animal farming on climate change, the plant-based market is expected to explode to an estimated $140 billion over the next decade, according to Barclays.
McDonald's Corp will test a new "plant, lettuce and tomato" sandwich using Beyond Meat patties in some restaurants in Canada next week, the company said on Thursday, following major rivals' bets on the plant-based protein mania in North America. McDonald's stock was up marginally. The world's largest burger chain joins Tim Hortons, KFC and Dunkin' Brands in adding products made with Beyond Meat patties to their menus.
(Bloomberg) -- McDonald’s Corp. has selected Beyond Meat Inc.’s faux-meat patties for a plant-based burger test in Canada. But the real prize will be the fast-food giant’s roughly 14,000 locations in its home market, and that race is still anybody’s game.The restaurant chain said it will sell the new product, featuring a patty crafted exclusively for McDonald’s, at 28 restaurants in Ontario during a three-month trial run.The new sandwich will be assessed to “learn more about real-world implications of serving the P.L.T,” which stands for plant, lettuce and tomato. “During this test, we’re excited to hear what customers love about the P.L.T. to help our global markets better understand what’s best for their customers,” Ann Wahlgren, McDonald’s vice president of global menu strategy, said in a statement.Shares of Beyond Meat surged as much as 16% to $160.60 on Thursday -- the most in more than three monhts. McDonald’s rose 1% to $214.72.U.S. PrizeThe question now is whether a successful Canadian test run could portend a similar tie-up in the U.S., McDonald’s biggest market and the ultimate goal for imitation-meat companies. Rival Burger King has picked the faux-meat market’s other prominent startup, Impossible Foods Inc., for a veggie burger in the U.S. Meanwhile, McDonald’s -- and its massive supply chain -- appears to be taking a more measured approach to choosing a vegan patty brand in the U.S.“McDonald’s is an enormous company, and the U.S. such a big market, that they’re taking their time in deciding which is best for them,” said Alain Oberhuber, an analyst at MainFirst Bank. “We have yet to see which brands will do better in retail, and who knows, there may be another big player entering the game. McDonald’s is taking a wait-and-see approach.”A spokeswoman for the company declined to say Thursday whether McDonald’s was close to selecting a supplier for a similar U.S. product.“This test allows us to learn more about real-world implications, including customer demand, customer experience, the restaurant logistics of cooking and serving this product to guests, the supply chain logistics of making this product available, and other important information that may inform future decisions,” spokeswoman Lauren Altmin said in an email.Don Thompson, a former McDonald’s chief executive officer, is an investor in Beyond Meat and has been on its board since 2015.German SupplierMcDonald’s announcement about the Canadian test run comes a day after Nestle SA started shipping a new plant-based burger to U.S. supermarkets. The U.S. fast-food company previously selected Nestle for the launch of a meatless burger in Germany. McDonald’s has also opened vegetarian restaurants in India.“The burger chain used Nestle in Germany, and due to their scale seem like the most likely candidate to supply McDonald’s U.S.,” said Bloomberg Intelligence analyst Michael Halen. Nestle declined to comment.McDonald’s will not be advertising the P.L.T. in Canada as vegan, even though the patty is made with plant-based protein. That’s because the standard P.L.T. contains non-vegan ingredients like processed cheddar and mayonnaise-style sauce.“As always, guests can customize and request to hold the cheese and mayo, or any ingredients. However, the patty will be cooked on the same grill as other burgers, meat-based products, and eggs,” Altmin said.The same is true at several rival chains, including Burger King, where employees cook their vegan patties on the same broilers as regular burgers and chicken unless a customer asks for it to be prepared separately.Will Slabaugh, an analyst at Stephens, said he doesn’t expect a “full-blown alternative beef rollout in the U.S. in the near term” because of McDonald’s complex supply chain. An alternative chicken product is more likely in the next two years, he said, something “we would view as more novel and a likely larger sales driver.”(Updates share trading and adds analyst comment in final paragraph)To contact the reporters on this story: Marthe Fourcade in Paris at email@example.com;Corinne Gretler in Zurich at firstname.lastname@example.orgTo contact the editors responsible for this story: Eric Pfanner at email@example.com, Anne Riley Moffat, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.