Yum! Brands Inc. (NYSE: YUM) owned chain Taco Bell has partnered with Beyond Meat (NASDAQ: BYND) to provide plant-based meat alternatives on the popular tex-mex chain's menu. The addition of Beyond Meat items to Taco Bell's menu is just the latest partnership between Yum! and the plant-based protein brand, with the company having previously collaborated with Pizza Hut.
Taco Bell revealed its partnership with Beyond Meat last Thursday in a move that goes against a previous announcement that the brand would try to develop non-meat items for its menu. In addition to plant-based proteins from Beyond Meat, Taco Bell also returned its potato-based items to its menu after having removed them to consolidate its menu during the coronavirus pandemic.
The removal sparked an outpouring of calls to reverse the decision on social media, which likely played a significant role in the decision to reinstate the menu items.
"We have long been a leader in the vegetarian space, but this year, we have more meatless options in store that vegetarians, veggie-curious, and even meat-eaters will love," Liz Matthews, Chief Food Innovation Officer of Taco bell, said. "The return of our beloved potatoes is just the first step in showing our fans the strong continued commitment to vegetarian [diets] we are marking this year."
Previously, Beyond worked with Yum! brand Pizza Hut to create two Beyond Meat pizzas for the popular pizza chain. The pizzas featured plant-based sausage and were offered on Pizza Hut's menu starting late last year. Before that, in 2019, Beyond Meat collaborated with Carl's Jr to add a plant-based burger to the chain's menu, and with Dunkin' Brands to introduce a plant-based breakfast sandwich.
Beyond Meat's collaborations have always been excellent for its stock, and its second collaboration with Yum! Brands is no different. News of its partnership with Taco Bell drove Beyond Meat's shares up on Thursday, with the firm ending 13.7% up by the day's end. Beyond Meat slid a bit the next day, losing 1.7% on Friday.