Tyson Foods has beefed up its investment of plant-based protein producer Beyond Meat following its 5% acquisition of the company last year.
Though the exact terms of this latest investment have not been revealed, Tyson said that it was made via its venture capital fund as part of Beyond Meat’s latest funding round.
The round was intended to generate additional capital to help the business bolster its product portfolio and ramp up distribution.
Beyond Meat’s star is certainly rising as it was only October when the business attracted investment and advocacy from Hollywood legend Leonardo DiCaprio.
“This investment reinforces our focus on protein and enables us to support Beyond Meat’s efforts to produce new, leading edge products,” said Tyson’s Executive Vice President Corporate Strategy and Chief Sustainability Officer Justin Whitmore.