Beyond Meat brings back plant-based chicken offering to its product portfolio

A package of Beyond Meat Inc. plant-based sausage is displayed for a photograph in Tiskilwa, Illinois, U.S., on Tuesday, April 23, 2019.

Beyond Meat Inc brought back a chicken offering to its product portfolio with the launch of plant-based chicken tenders on Thursday as the faux-meat maker looks to capitalize on the booming demand for meat alternatives amid a shift towards healthy eating in the pandemic.

The company is launching the product in around 400 U.S. restaurants, more than two years after it discontinued a frozen chicken strip offering due to negative reviews.

Beyond Meat, known for its faux beef Beyond Burger, launched Chicken Strips as its first alternative meat product in 2012.

Made out of faba beans and peas, the improved faux meat chicken tenders recipe has 14 grams of protein per serving, no cholesterol and contains 40% less saturated fat than the leading foodservice chicken tender, Beyond Meat said in a statement.

The move to reintroduce a chicken product follows a 26% drop in the company’s U.S. foodservice revenue in the three months to April 3.

In an interview with CNBC, Beyond Meat‘s chief executive, Ethan Brown, said the chicken tenders were priced keeping food service in mind and that the company planned to launch more chicken meat substitutes in the future. The timing of the launch with the reopening of the US restaurants was a coincidence, he said.

Blissful Burgers, Detroit Wing Company and Melt Bar & Grilled are some of the smaller chains and restaurants where the chicken tenders will be available on Thursday, the company said.

Shares of the El-Segundo, California-based company, which did not disclose whether the product would be sold at grocery stores, were up 1.3%.

Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.