Beyond Meat is set to open its first factory outside the U.S. The El Segundo, California-based vegan meat brand announced today its partnership with Zandbergen World’s Finest Meat.
The new deal will see to Beyond Meat building its first European facility in Zoeterwoude, the Netherlands, where Zandbergen’s head offices are located. The 93-year-old meat brand, which sells throughout the E.U. and United Arab Emirates, began distributing Beyond Meat across retail and foodservice last year.
The factory will allow Beyond Meat to reduce its carbon footprint by cutting out overseas transportation while also increasing the speed at which its plant-based meat products can be distributed across Europe.
“The consumer response in Europe has been very positive and we look forward to being able to better serve those customers with locally produced products. We are pleased to have strong strategic partners in Europe like Zandbergen to help us grow our global footprint,” Seth Goldman, Executive Chairman of Beyond Meat, said in a statement.
Beyond Meat is currently sold at a few locations across the E.U., including Delhaize in Belgium, the meat case at Albert Heijn in the Netherlands, and Lidl in Germany. The vegan meat brand aims to reach new burger chains and restaurants to meet increased demand.
“As the demand for plant-based products continues to expand in Europe, we are thrilled to be partnering with Beyond Meat to produce their innovative products outside the U.S.,” said Adriaan Figee, Chief Commercial Officer of Zandbergen World’s Finest Meat.
The Growing Market for Plant-Based Meat
The brand became the first vegan meat brand to go public earlier this month after launching the most successful first-day IPO in nearly two decades. Stocks have risen more than 73 percent since then, according to Reuters. Analysts at J.P. Morgan predicted today that the vegan meat market may be with $100 billion in the next 15 years, with Beyond Meat taking a 5 percent stake.
Beyond Meat’s first European factory is expected to open in the first quarter of 2020.