McDonald's will test a new "plant, lettuce and tomato" sandwich using Beyond Meat's patties in 28 restaurants next week, following major rivals in betting on the growing popularity of plant-based alternative meat.
Shares of Beyond Meat, which have roughly tripled in value since the company launched on the stock market in May, rose about 10% before the bell, while those of McDonald's were flat.
The world's largest burger chain joins Tim Hortons, KFC and Dunkin' Brands in moving ahead with versions of a plant-based addition to their menus using Beyond Meat's patties.
McDonald's already sells plant-based burgers in Germany and Israel in partnership with Nestle, which is also on track to launch its Awesome Burger at retailers and restaurants in the United States.
Nestle launched its plant-based Incredible Burger in April under the Garden Gourmet brand in several European countries. The same month, McDonald’s started selling the patties as “Big Vegan TS” in its 1,500 restaurants in Germany.
"We've been working on our (Beyond Meat PLT) recipe and now we're ready to hear feedback from our customers," McDonald's Vice President of Global Menu Strategy, Ann Wahlgren, said.
The PLT sandwich, which has no artificial colors, flavors, or preservatives, a key factor for health-conscious diners, will be priced at $6.49 plus tax in 28 restaurants in southwestern Ontario, Canada from Monday.