McDonald’s takes a nibble of the plant-based burger
(AP) McDonald’s is finally taking a nibble of the plant-based burger.
McDonald’s said Thursday that will sell the PLT, or the plant, lettuce and tomato burger for 12 weeks in 28 restaurants in Southwestern Ontario by the end of the month.
The small-market test is rolling out about six months after rival Burger King began testing the plant-based Impossible Foods burger, which no surprise, is a rival to Beyond Meat. It’s now selling those burgers nationwide because of strong demand from customers.
The entry of McDonald’s, the world’s largest burger chain, into the alternative meat arena has largely been seen as a question of when, and not if. Shares of Beyond Meat Inc. bolted 11% higher at the opening bell on the McDonald’s announcement.
It’s been a breakthrough year for the companies that are trying to perfect the no-meat burger.
Beyond Meat became a publicly traded company in May when it listed its shares for $45 on the Nadaq. By July, those shares had risen more than 430%. Impossible Foods has raised more than $750 million, but remains private.
Beyond Meat and Impossible Foods are now appearing on fast food menus across the United States.