McDonald’s will roll out its new vegan burger, developed in collaboration with Beyond Meat, in 600 locations across Texas and California.
Beginning Feb. 14, the vegetarian McPlant burger and its plant-based patty will be offered at participating locations throughout the Dallas-Fort Worth metroplex and the San Francisco Bay Area.
Wall Street investors appear to be in favour of the move. In morning trade on Thursday, Beyond Meat stock jumped more than 5.5 percent.
As of Thursday lunchtime, the stock price of McDonald’s had increased by roughly 1%.
Two Wall Street analysts predicted a big McPlant expansion in the United States in December.
According to Reuters on Thursday, one of those analysts, BTIG’s Peter Saleh, said the enlarged test “moves the product one step closer to a national launch, which might be worth several hundred million dollars” to Beyond Meat.
The Big Mac creator from Chicago is expanding its experimental programme, which began in the fall. Only eight eateries in Texas, California, and Louisiana participated in the initial small-scale trial.
The McPlant is already available in Sweden, Denmark, the Netherlands, Austria, and the United Kingdom, among other European markets.
In the Dallas-Fort Worth metroplex and the San Francisco Bay Area, the McPlant will soon be offered in 600 McDonald’s restaurants.
“We’re continually trying new goods and flavours,” McDonald’s said, “and this particular test will help us understand how selling a burger with a plant-based patty impacts our restaurants’ kitchens.”
The meatless patty is created with peas, rice, and potatoes and will be served with tomato, lettuce, pickles, onions, mayonnaise, ketchup, mustard, and American cheese on a sesame seed bun, according to the firm.
Beyond Meat’s stock plummeted in the fall of 2020 after the company declared that it was “co-creating” the McPlant with McDonald’s, despite the fast food giant’s silence on the matter.
Beyond Meat’s bottom line suffered as a result of the epidemic, as demand for vegan-friendly cuisine fell and eateries providing its meat replacements were forced to close owing to government-imposed lockdown measures.
Beyond Meat, a plant-based meat alternative company established in Los Angeles, continues to collaborate with food and beverage industry veterans.
It announced a partnership with PepsiCo earlier this week to develop a plant-based jerky snack. The PLANeT Partnership is a joint venture that will focus on the development of healthy plant-based foods and beverages.
Beyond Meat also partnered with Kentucky Fried Chicken to launch Beyond Nuggets, and further collaborations with Taco Bell and Pizza Hut are expected in the future.