PepsiCo and Beyond Meat to form a joint venture.

PepsiCo and Beyond Meat, a producer of plant-based meat substitutes, agreed to form a joint venture to develop, produce and market innovative snack and beverage products made from plant-based protein. The joint venture operations will be managed through the newly created entity The PLANeT Partnership. "Plant-based proteins represent an exciting growth opportunity for us, a new frontier in our efforts to build a more sustainable food system and be a positive force for people and the planet, while meeting consumer demand for an expanded portfolio of more nutritious products. Beyond Meat is a cutting-edge innovator in this rapidly growing category, and we look forward to combining their unparalleled expertise with our world-class capabilities in brand-building, consumer insights and distribution to deliver exciting new options," Ram Krishnan, PepsiCo Global Chief Commercial Officer.