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PepsiCo, a well-known brand in snacks and beverages globally, has acknowledged the need to embrace natural and environmentally conscious practices. On the other hand, Beyond Meat has been leading the way in sustainability with its plant-based proteins but lacks resources and visibility. In a strategic move, PepsiCo and Beyond Meat have partnered to form The PLANeT Partnership, commencing operations in January 2022. This collaboration presents PepsiCo with an entry into the sustainable snack market and an opportunity to utilize its established brand, while Beyond Meat gains access to Pepsi’s production facilities and marketing expertise.
According to CNBC, Pepsi CEO Ramon Laguarta expressed excitement about the partnership, stating, “This is only the beginning of what I think is going to be a game-changing JV.”
PepsiCo targets early 2022 to roll out products from joint venture with Beyond Meat! Pepsi and Beyond announced the JV, called The PLANeT Partnership, in January! $PEP $BYND #vegan #plantbased https://t.co/CmF9fhNLKV
— AlphaBronze (@Alpha_Bronze) September 15, 2021
The formation of The PLANeT Partnership comes on the heels of Pepsi’s Pep+ initiative announcement, which focuses on researching and developing sustainable alternatives for its products. This includes initiatives to reduce plastic usage, increase plant protein content, minimize added sodium and sugar, and support agricultural innovations. Pepsi is making significant strides towards sustainability by implementing a hybrid in-person/remote work model to reduce paper and fuel consumption.
“Don’t come to the office to make phone calls or write emails,” Laguarta emphasized to CNBC. “That’s a waste. That’s a lot of commute, a waste of personal time, unnecessary pollution.”
