Beyond Meat To Sell Plant-Based Patties In Beef-Hungry Brazil
Beyond Meat Inc is to sell its plant-based burgers and sausages at a Brazilian high-end supermarket chain, entering the country about two weeks after launching in mainland China's retail market through Alibaba Group's Freshippo markets.
Starting on Wednesday, Beyond Meat products will be in 19 upscale St Marché stores in Sao Paulo, the richest city in Brazil.
The retailer was founded in 2002 and is partially owned by the world’s biggest consumer-focused buyout firm, L Catterton. Brazil is the world's No. 3 consumer of beef after the United States and the European Union.
The partnership comes as plant-based meat makers, including Beyond Meat's Silicon Valley-based rival Impossible Foods, seek to tap in to the potentially lucrative international markets where plant-based meat buzz is spreading quickly.
In early June, Yum China Holdings Inc introduced Beyond Meat burgers for a limited time at some of its KFC, Pizza Hut and Taco Bell locations.
El Segundo, California-based Beyond Meat has been doubling down on expansion in retail outlets, as restaurants around the world shut due to COVID-19 lockdowns.
Revenue from the company's U.S. retail business rose 157% in the quarter ended March 28 versus a year ago while international retail revenue was up nearly 5,000%, according to a Beyond Meat presentation.