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Beyond Meat shares have soared after fast-food chain Tim Hortons announced it would trial the company’s vegan sausage in selected stores across Canada.
The meatless sausage will be available in the form of the Beyond Meat Breakfast Sandwich, the Beyond Meat Farmers Breakfast Wrap, and the Beyond Meat Vegan Sandwich.
‘An all-time high’
According to Yahoo Finance, shares of Beyond Meat increased by ‘as much as 16% – with CNBC stating a share in the company reached an ‘all-time high of $93’.
“Canadians are looking to incorporate plant-based options into their diets and we’re thrilled to partner with Beyond Meat to test three Beyond Meat Breakfast Sandwiches – including an entirely vegan offering if the market test confirms the potential we see for the platform,” said President of Tim Hortons, Alex Macedo.
‘The right alternative’
In an interview with CNBC, Jose Cil, CEO of Restaurant Brands, which owns Tim Hortons, said: “The team did a lot of research and tested what products would work best as an alternative to beef or sausage in the breakfast category, and we concluded Beyond Meat was the right alternative.”
The vegan startup made its debut on New York’s Nasdaq exchange earlier this month, where it was valued at a staggering $3 billion.
