Beyond Meat CEO Says McDonald’s ‘McPlant’ Collaboration, Believes Chain Should Recognize It On The Menu

The CEO of Beyond Meat seems confused as to why McDonald’s is being silent on creating its plant-based alternative to meat.

McDonald’s on Monday announced plans to start serving its own plant-based burger – called “McPlant” – and even described it as “a delicious plant-based burger made for McDonald’s, by McDonald’s, and with the kind of McDonald’s cravable flavor. our customers love it. “

McDonald’s touted its upcoming McPlant offering on Monday, describing it as “a delicious plant-based burger made for McDonald’s, by McDonald’s.” (McDonalds)

However, in a statement obtained by Fox News on Monday, a spokesperson for Beyond Meat said that Beyond Meat and McDonald’s “have co-created the herbal pancake that will be available as part of their McPlant platform.

McDonald’s, however, has not publicly confirmed the partnership with Beyond Meat. And it all seems to leave a bad taste in the mouth of Beyond Meat CEO Ethan Brown.

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“I think given the resonance consumers have with our brand and just the momentum we have with consumers, the brand that we’ve established, we think [the Beyond Meat branding] deserves to be up there on the menu, ”Brown said on an earnings call Monday night. “And almost all of our QSR partners have done and benefited from it.”

Brown added that last year, after McDonald’s Canada collaborated with Beyond Meat on its limited-time PLT burger, the fast food chain was transparent about the source of the sandwich’s plant-based patty.

Beyond Meat and McDonald’s previously collaborated on PLT for McDonald’s Canada, an item that was tested in Ontario last year. (McDonald’s of Canada)

“And if you look at how the PLT was positioned, it was pretty clear in all the sales guarantees and signaling that it was with the Beyond Meat burger,” Brown added. “Now, we can’t elaborate or speak for McDonald’s about how we interact with McPlant Burger. But we clearly believe it would be in everyone’s best interests to use our brand, and I would resist efforts not to use it.

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Following McPlant’s initial announcement yesterday from McDonald’s, shares in Beyond Meat took a brief dip before finally recovering in the afternoon.

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In Beyond Meat’s third quarter earnings report, however, Brown said third quarter results were “below expectations” after a strong second quarter marked by increased retail sales, spurred in some cases by supermarket shoppers that stock frozen products.

“Our financial results reflect a quarter where, for the first time since the start of the pandemic, we experienced the full impact and unpredictability of COVID-19 on our bottom line and therefore, throughout our P&L,” Brown said.

The company reported net revenue of $ 94.4 million, an increase of 2.7% year over year. The net loss, however, was $ 19.3 million in the third quarter, compared to the same quarter in 2019.