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Beyond Meat Expands Partnership With Del Taco, But Won't Be Coming To Taco Bell

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Beyond Meat Expands Partnership With Del Taco, But Won't Be Coming To Taco Bell

The plant-based meat alternative craze is making its way to one taco chain.

Expanding At Del Taco

Del Taco Restaurants Inc (NASDAQ: TACO) announced Thursday an expanded partnership with Beyond Meat Inc (NASDAQ: BYND) to offer a 100% plant-based protein option. The country's second largest Mexican-themed fast-food chain will offer two new signature protein-packed burritos: the Beyond 8 Layer Burrito and the Epic Beyond Cali Burrito.

Del Taco's meatless products underwent tests in multiple locations across the country and will now expand to its more than 580 locations, the company said.

"The enthusiasm shown by our fans during the first weeks of our Beyond Meat offerings was undeniable," said John Cappasola, President and CEO of Del Taco.

Not Coming To Taco Bell

Yum! Brands, Inc. (NYSE: YUM)'s Taco Bell chain is known for offering vegetarian alternatives to its customers, but there are no plans to bring a plant-based product to its menu. Speaking to CNBC, Taco Bell's president of North American operations Julie Fells Masino said the restaurant chain "looked" into plant-based alternatives.

The executive said Taco Bell executives met with Beyond Meat executives along with those at rival Impossible Foods,. Instead of a new partnership, Taco Bell will focus on marketing its vegetarian options which have been a staple for 57 years.

Del Taco closed Wednesday at $11.47 per share. Beyond Meat closed at $169.28 and was trading higher by 5% Thursday morning.

Related Links:

Why A Beyond Meat Short Squeeze May Be 'Just Around The Corner'

Another Company Joins The Plant-Based Food Race: Campbell Soup

Photo courtesy of Del Taco.

Posted-In: beef CNBC Impossible Foods Taco BellNews Restaurants Top Stories General Best of Benzinga

 

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