On Monday popular vegan meat brand, Beyond Meat gained two new investors. Major retailers will now be stocking their products.
In the latest in a series of distribution deals, Beyond Meat’s (NASDAQ:BYND) flagship Beyond Burger will appear on the shelves of warehouse clubs BJ’s Wholesale (NYSE:BJ) and Walmart-owned (NYSE:WMT) Sam’s Club.
Investors are happy about this latest expansion of the alt-protein purveyor’s footprint. They bid Beyond Meat’s shares up by 6.7% on Monday.
BJ’s and Sam’s Club are both high-volume retailers with big presences on the U.S. market. Beyond Meat’s arrangements with the two – the terms of which were not detailed – complement the first big warehouse club deal it signed in 2019 with Costco.
According to Beyond Meat, its eight-pack of Beyond Burgers was the first alt-meat product Sam’s Club considered carrying, following a pilot sales program the retailer conducted earlier this year. As for BJ’s, Beyond Meat said the company selected it among several competing products it did not identify.
In its press release trumpeting the new deals, Beyond Meat did not provide any of their terms nor financial particulars. Beyond Meat also didn’t give any estimates for how the BJ’s and Sam’s Club arrangements would impact its business. The company did write in the press release that it “is working to increase accessibility to plant-based meat through the development of new sales channels.”
The Beyond Burger is the company’s flagship product. It has found its way not only onto grocery store shelves but also menus at numerous restaurant chains.
Original source: https://www.fool.com