Taco Bell Says No to Beyond Meat's Vegetarian Carne Asada

Bloomberg2021-12-10

(Bloomberg) -- Taco Bell canceled a planned test of a product from Beyond Meat Inc. after the fast-food chain was dissatisfied with samples in October, according to people with direct knowledge of the...

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KennyLSJ
2021-12-10
KennyLSJ
One-sided wishful thinking by bynd.🤣
nelson21
2021-12-10
nelson21
Pls like
YTRT
2021-12-10
YTRT
Thanks

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Another test of a Beyond Meat product could still happen as the companies will continue to work together, the people said.\n“Taco Bell and Beyond Meat are thrilled to be working together to create a plant-based protein that’s just as craveable as Taco Bell’s current meat options yet entirely new to the national QSR space,” the companies said in a joint statement Thursday, using an abbreviation for quick-service restaurants. “We can’t provide additional details at this time but are very excited about what Taco Bell and Beyond Meat have planned.”\nBeyond Meat announced in February that it had a multiyear deal with Taco Bell parent Yum! Brands Inc. that also included the company’s KFC and Pizza Hut chains. At the time of the announcement, Chief Executive Officer Ethan Brown said that “any activity is likely to skew towards the latter part of this year.”\nIn September, a Taco Bell spokesperson told Bloomberg News that the chain would provide more information later in 2021.\nNot Surprised\nJoseph Szala, managing director of Vigor, a restaurant consultancy, said he wasn’t surprised by Taco Bell’s rejection of the samples if they didn’t meet the company’s requirements, and it doesn’t preclude further collaboration.\n“Taco Bell spends a lot of money on R&D and they have a high standard; the food really does matter to them,” he said. “This has to be 100% on the nose, amazing and delicious.”\nThe canceled test and employee terminations reflect ongoing problems the maker of plant-based meat has faced with bringing its products to market, as Bloomberg reported last month. The company’s shares have fallen 44% this year.\nAs the production issues have mounted, the company has developed an internal pattern of blame, Bloomberg reported. “We have a culture of accountability to achieve results,” a Beyond Meat spokesperson said at the time.\nThe spokesperson also said that the company has “commercialized and introduced more than a dozen retail and foodservice products in the U.S. and abroad” since March 2020. The spokesperson listed some products that have been available only in trials, such as the Beyond Pepperoni that was tested at fewer than 70 Pizza Hut locations.\nBeyond Meat’s partnerships with the fast-food industry include McDonald’s Corp., where a U.S. trial began this fall for a plant-based burger called the McPlant. The operations test began Nov. 3 at eight restaurants in the U.S. and is ongoing, the Chicago-based company said. 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