Beyond Meat signs partnership for production in China
Beyond Meat is ramping up production in China as plant-based products continue to infiltrate global markets. The alternative meat company said Tuesday that it is signing a deal to open a production facility near Shanghai. The facility will manufacture plant-based meat products, including alternatives for beef, pork and chicken.
The Los Angeles-based company signed a deal with Jiaxing Economic and Technological Development Zone to design and produce facilities in the Shanghai region, Beyond Meat said in a press release. The production facility is expected to be fully operational by early 2021. Beyond Meat has already opened the Chinese market since April this year, when its products launched in Starbucks coffee shops in mainland China. In June, the company signed a partnership with Yum China to launch its plant-based products at restaurants like KFC, Pizza Hut and Taco Bell.
"China is a critical part of Beyond Meat’s long-term growth strategy, and we are committed to growing our presence in this vitally important country and market," a Beyond Meat spokesperson said for FOXBusiness channel.
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