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PepsiCo goes Beyond Meat in new partnership

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PepsiCo and Beyond Meat are creating a joint venture to develop snacks and drinks made from plant-based proteins. The companies didn’t reveal what kinds of products they will make Tuesday, saying they’re still in development.

But the collaboration, the largest of its size outside of the restaurant industry for Beyond Meat, sent its shares to their largest single-day gain since they began trading, jumping by more than $50 each to $209.17.

Pepsi gets access to one of the leading plant-based meat companies as more people try to cut down on meat consumption and become more aware of how their food choices affect the environment.

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