KFC will
start selling fake chicken made by Beyond Meat in its restaurants nationally next Monday, for a limited time until supplies run out, the two companies announced, calling it a “Kentucky Fried Miracle.”
- The Yum! Brands company has been testing plant-based chicken products in its restaurants since 2019, in locations such as Atlanta, Nashville, and Charlotte. It also tested the plant-based fried chicken in Southern California in 2020, selling out in a week.
- Beyond Meat stock soared 9% on Tuesday after word of the offering. The two companies made an agreement a year ago where Beyond would make meat substitutes for KFC, Taco Bell, and Pizza Hut.
- The two are counting on a number of people choosing to eat more plant-based food in the New Year. Mexican food chain Chipotle unveiled its plant-based chorizo sausage on Monday.
- Beyond Meat had initial success in grocery stores and then faltered. Its shares are down 50% in the past year, and the company reported disappointing third-quarter results, with a gloomy sales outlook.
What’s Next: McDonald’s has been testing a plant-based burger called McPlant in eight locations and is expected to expand the rollout this year, possibly by the end of the first quarter, as a limited time offer.