Vegan firm Beyond Meat sizzles as investors hunger for more.
Byline: ELLIOT KIME
VEGAN burger startup Beyond Meat's share price jumped eight per cent yesterday after the firm said it was preparing to cater directly to European customers by opening a production site in the Netherlands.
However, concerns that such an expansion might be too much, too soon have left investors divided.
Beyond Meat, a leader in plantbased substitutes, said that its partnership with Zandbergen World's Finest Meat will expand to include the construction of a new manufacturing facility in Zoeterwoude, the Netherlands.
The company hopes that its first facility outside the US will help reduce the brand's transportation impact and help reach European clients more efficiently.
"The consumer response in Europe has been very positive," said chief executive Seth Goldman.
"We are pleased to have strong strategic partners in Europe like Zandbergen to help us grow our global footprint."