Another fast-food chain is jumping on the alternative-meat bandwagon.
Subway Restaurants will officially be testing out Beyond (BYND) Meatball Marinara subs in 685 participating locations in Canada and the U.S., according to a release issued by both companies on Wednesday.
"Subway appeals to so many fans because we truly offer something for everyone. Our guests want to feel good about what they eat and they also want to indulge in new flavors,” Subway’s Chief Brand and Innovation Officer Len Van Popering said in a statement.
“With our new plant-based Beyond Meatball™ Marinara sub, we are giving them the best of both worlds. And, we are particularly excited about debuting a co-developed product that can't be found anywhere else: the Beyond Meatball™ made just for Subway," he added.
Beyond Meat has been aggressively expanding its restaurant partnerships recently. The alternative-meat brand also has partnerships with Tim Hortons (QSR), Dunkin (DNKN), Del Taco (TACO), TGI Fridays, Carl’s Jr., among others.
Citing NPD data showing that 70% of meat-eaters substitute for a non-meat protein once a week, Subway boasted that the Beyond Meat deal would give its customers 2 billion potential sandwich options.
Beyond Meat CEO Ethan Brown said, “We're excited to partner with Subway and are grateful that the menu team through to senior management has entrusted us as their innovation partner to deliver delicious plant-based proteins to their guests. We look forward to a long-term partnership with Subway as we together serve and delight existing and new fans of this iconic chain."
Shares of Beyond Meat, which finished Tuesday’s trading session at $161.24, were 4% higher in pre-market trading following the announcement.
Investors have been piling into Beyond Meat stock after the company made its public debut in early May, pricing at $25 per share. Shares have skyrocketed 545% since its IPO, as of Tuesday’s closing price.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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