Tyson Foods sells Beyond Meat stake
Springdale, Ariz.-based Tyson Foods has sold its stake in Beyond Meat, an alternative meat protein company.
According to CNBC, the announcement comes after a long-developing tension between the two companies, particularly after Tyson CEO Noel White announced the company will be creating its own plant-based protein products last February.
“Tyson Ventures is pleased with the investment in Beyond Meat and has decided the time is right to exit its investment. Beyond Meat provided an early opportunity for Tyson Ventures to invest in plant-based protein products that many consumers are seeking. We wish the leadership of Beyond Meat all the best,” the company wrote in a statement to CNBC.
To read the CNBC article, click here.