Beyond Meat stock soars 11% after McDonald’s announces Canadian test of its plant-based burgers
By Sara Shaw • September 27, 2019
McDonald’s on Thursday announced plans to test a plant-based burger using Beyond Meat patties in Canada. The item will appear on those menus as the P.L.T, which stands for plant, lettuce and tomato.
Restaurants are choosing plant-based burgers as a way to appeal consumers looking to cut down on their meat intake. The NPD Group found that 95% of people who buy these vegan burgers also made a beef burger purchase within the last year.
“This test allows us to learn more about real-world implications of serving the P.L.T., including customer demand and impact on restaurant operations,” Ann Wahlgren, McDonald’s vice president of global menu strategy, said in a statement.
McDonald’s already sells plant-based burgers in Germany and Israel in partnership with Nestle, which started selling its Awesome Burger at U.S. retailers this week.