Latest news with #Meat
Economic Times
4 days ago
- Business
- Economic Times
Plant-based pioneer Beyond Meat struggles with cash crunch, considers bankruptcy
Synopsis Beyond Meat, a plant-based meat company, may face bankruptcy. Sales are declining, and debt is rising. Competition in the plant-based market is increasing. The company is trying to cut costs and restructure. The US market for plant-based meat is growing slowly. Beyond Meat is expanding its product line. The company hopes to overcome these challenges. Reuters FILE PHOTO: Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, U.S., June 5, 2019. REUTERS//File Photo Plant-based meat pioneer Beyond Meat is facing a potential Chapter 11 bankruptcy after reporting falling sales, dwindling cash reserves, and mounting debt, according to which confirmed it on August 12. Once credited with creating the market for meat-like plant-based products, the company now struggles amid increased competition and a slow-growing niche in the second quarter of 2025 dropped nearly 20 per cent year-over-year, highlighting weakness in US retail channels and select international markets. Analysts say the proliferation of competitors offering similar plant-based products has eroded Beyond Meat's early advantage, leaving the company Meat currently holds $117.3 million in cash but $1.2 billion in debt. According to InvestingPro data, the company's overall financial health score is rated as WEAK, with a concerning debt-to-capital ratio of 86 per cent. To address these challenges, the company has appointed restructuring expert John Boken as interim Chief Transformation Officer and cut 44 North American jobs, representing 6 per cent of its workforce. Management is also pursuing cost reductions and operational efficiencies to stabilize the business. According to the Street, the US plant-based meat market has grown slowly, from roughly $939 million in 2019 to an estimated $3.4 billion in 2024, with projections reaching $6.1 billion by 2030. Beyond Meat has attempted limited product expansion beyond beef, pork, and poultry alternatives, but early consumer tests indicate these efforts appeal only to a narrow Meat, Inc. is an American company that produces plant-based meat substitutes designed to mimic the taste and texture of traditional animal-based meat. Founded in 2009, the company aimed to provide sustainable alternatives to beef, pork, and poultry using ingredients such as peas, beans, lentils, faba beans, and brown Meat products are marketed as non-GMO and free from animal products, appealing to vegetarians, vegans, and flexitarians. Its product line includes Beyond Burger, Beyond Sausage, Beyond Beef, and other plant-based protein items available in grocery stores and restaurants globally. The company became a public entity in 2019, attracting attention for its innovative approach to sustainable food. Despite early success, Beyond Meat faces challenges from rising competition, slow market growth, and operational costs, which have recently put the company at financial risk.
Yahoo
01-08-2025
- Business
- Yahoo
Beyond Meat ‘drops ‘Meat' from name'
Loss-making Beyond Meat is reportedly ditching 'Meat' its corporate name, perhaps to breath some life into sales. Ethan Brown, the founder, president and CEO of the US-headquartered meat-alternatives producer made the revelation in an interview with American business magazine Fast Company. Brown told the publication: 'What we're great at is making protein,' and adds 'instead of thinking about a simple replacement for animal protein, what if you just thought about your daily protein consumption, and I started to try to replace as much of that as I can with plant protein, any form that I could?' Fast Company suggested that the name change meant the company was "turning its focus away from mimicking animal proteins to letting plant-based proteins speak for themselves". Beyond Meat doesn't plan to discontinue any of its existing products, according to the publication. Just Food has approached the company to confirm the details in the Fast Company report. Global sales of plant-based meats have been falling or at least slowing in many markets. The main criticisms fired at the category have generally centred around taste and quality, with inflated price also being an off-putting factor for consumers. Reasons for this include long ingredient lists, and allegations that many products are overly processed. The reported name change comes just several days ahead of the company's second quarter results. In its first quarter of 2025, losses in adjusted EBITDA widened to $42.3m from $32.9m. Beyond Meat's net loss was $52.9m, a slight improvement from the $54.4m loss in the same quarter of 2024. Sales fell 9.1% in the opening three months of 2025 to $68.7m. In the same quarter of last year, it dropped 18% to $75.6m. Another decline is now expected in the new quarter, with Brown at the time pointing to $80-85m, compared to $93.2m in Q2 of 2024, when they fell 8.8%. In its International segment however, Beyond Meat's foodservice sales were up 12.1% at $15.3m, while retail sales were more subdued, up only 0.8% at $12.7m. Beyond Meat saw sales revenue rebound in the third quarter of 2024, but it still slightly downgraded the top-end of its year-end guidance. At the time, the CEO said: 'You can see a very steep curve moving in the right direction and that's why we feel so confident about our plan to bring the business into profitability.' He told analysts: 'I can't say when – I don't want to imply it's going to be anytime soon but that is where we're headed.' Brown at the time also condemned critics of plant-based meat, who label the foods over processed: 'The weaponisation of the word process, a tactic emphasised in the incumbent industry playbook on how to undermine plant-based meat and preserve the status quo, has grown long in the tooth. It is past time we put it to bed. 'We plan to do that by applying generous amounts of sunlight to our own process, educating consumers on how we build meat directly from plants.' Beyond Meat's new product Beyond Ground, reportedly due to launch in August, is stripped down to four clean ingredients: the fava beans, potato starch, water, and psyllium husk. Fava beans, Brown told Fast Company, are just the start: 'If you want something that's a ground product, here you have it." Going forward, Brown said the company can 'serve an occasion versus trying to mimic an animal…. You'll see us come out with things like, maybe, lentil sausage. Or chickpea hot dogs.' Beyond Meat has not turned a profit since it went public in 2019 on the Nasdaq exchange. Similarly, EBITDA has not been in the black since the meagre $11.8m generated in 2020. Its shares last traded at $3.04. They have lost more than 50% this year and faded from the loft heights of north of $100 five years ago. "Beyond Meat 'drops 'Meat' from name'" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
25-06-2025
- Business
- Miami Herald
Pizza Hut makes big menu change amid startling customer behavior
It is no secret that consumers nationwide are pulling back their spending on fast food for several reasons, such as to save money due to concerns about inflation and tariffs. Also, more consumers are pivoting towards healthier foods, a trend that blossomed after the Covid pandemic. Fast-food prices have also increased by roughly 47% over the past decade, which has scared away many consumers struggling to afford a higher cost of living. Don't miss the move: Subscribe to TheStreet's free daily newsletter A survey from LendingTree last year found that 78% of Americans view fast food as a luxury, since it has become less affordable. Also, 62% of Americans said they're eating less fast food due to rising prices, and 56% said they choose to make food at home when they want an easy and cheap meal. Related: Pizza Hut struggles to reverse troubling consumer trend Amid this consumer trend, Pizza Hut, which is owned by Yum Brands (YUM) , saw its system sales in the U.S. decrease by 7% year-over-year during the quarter, and its operating profit dipped by a whopping 20%. During an earnings call in April, Yum Brands CEO David Gibbs said Pizza Hut's sales performance in the U.S. was "disappointing" and flagged that the pizza chain was operating in an "intense competitive environment." "Pizza Hut is in a tough category right now in QSR (quick-service restaurants) in the U.S., and certainly the pizza category with everybody reporting negative sales is pressured," said Gibbs during the call. "But we've obviously seen Pizza Hut have significant growth in years past when they get the offerings right for consumers, like with melts and value." Image source: Shannon O'Hara/Getty Images To help attract customers back into its stores, Pizza Hut is shaking up its menu with four new limited-edition items at discounted prices. The pizza chain has launched Hut Lover's Pizzas, which include a new Spicy Hawaiian Lover's pizza that contains "spicy marinara sauce, ham, bacon, pineapple, jalapeño, and red chili flakes," according to a new press release. Related: Domino's Pizza suffers a startling loss as customers switch gears It also introduced a Meat Lover's pizza, which is topped with "pepperoni, Italian sausage, ham, bacon, seasoned pork, and beef." Pizza Hut's new Pepperoni Lover's pizza just contains extra cheese and pepperoni, while its new Veggie Lover's pizza is loaded with "mushrooms, onions, green peppers, diced tomatoes, and black olives." A large size of one of these pizzas costs $12.99. This is a deal, because a large pizza at Pizza Hut usually costs a little under $20, depending on the region. The new announcement from Pizza Hut comes after it recently made several bold attempts this year to win back customers. More Food + Dining: Papa Johns makes major menu change to win back customersSteak 'n Shake's beef tallow fries aren't as healthy as they appearChick-fil-A angers customers with major change in stores In February, it introduced its Ultimate Hut Bundle. This deal allows customers to order two medium pizzas, any eight boneless wings, sticks, and two dipping sauces, starting at $24.99. The following month, Pizza Hut brought back Cheesy Bites Pizza, a fan-favorite menu item, for a limited time. It also introduced three new exclusive dipping sauces: Chipotle Ranch, Ultimate Ranch, and Pepperoni Ranch. During the earnings call in April, Gibbs said that Pizza Hut will focus on its "3D strategy" to boost its sales going forward. This strategy includes "distinctive offerings for group occasions, dependable everyday value through platforms such as the $7 deal levers, and disruptive innovation to gain share in a competitive market." Related: McDonald's to suffer massive boycott from customers The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Axios
13-06-2025
- Entertainment
- Axios
Cleveland filmmaker slashes horror norms with queer cinema
Queer culture and the horror genre haven't traditionally gone hand in hand, but one Northeast Ohio filmmaker is hoping to change that. The intrigue: Westlake native Roger Conners' new film, "Meat the Movie," premieres at Capitol Theatre on Thursday. Conners describes it as an "LGBTQIA+-themed slasher film" that is an "unabashedly queer piece of cinema." What they're saying: "If you're a fan of the horror genre and you're queer, you've felt underrepresented," Conners tells Axios. "My goal from day one was to make a horror movie for queer fans of the genre and a movie reflecting the Cleveland queer scene." Flashback: Conners' life in the arts began as a teenager at Cleveland's Near West Theatre. He went on to star in several independent horror films, earning the proud moniker of "Scream Queer" from his peers. Conners directed his first film, "Rebirth," in 2020 before turning his attention to "Meat." The plot: A friend circle lets one of its own take the fall after a night of debauchery that leaves one of them dead. Years later, a killer named "The Stud" — whose look takes inspiration from fetish wear and queer culture — begins murdering the group members one by one. Zoom in: Conners shot most of the movie with primarily local talent in downtown Cleveland and a mansion in Hocking Hills. The big picture: The timing of the movie's release is important for Conners, given the obstacles currently facing the LGBTQ+ community.
Yahoo
10-06-2025
- Business
- Yahoo
Food- and drink-tech VC deals slide
Venture-capital deals in food-tech are likely to decline sharply this year in both value and transaction terms, Pitchbook research has suggested. Presenting its latest food-tech VC trends report, which includes deals in the beverages segment, Pitchbook painted a tough picture for the investing environment from both the buy and sell sides, with valuations still proving to be problematic. While the data set only covers the first quarter, the numbers look bleak for the rest of 2025 if extrapolated out over the full year, with the slope of the declines suggesting a substantial recovery would be needed to gain ground on 2024. Food-tech venture-capital deals slid 49.6% quarter-on-quarter to $1.4bn and the number of transactions fell 15.1% to 202, according to PitchBook, which provided perspective on previous years as a whole: 2024 at $10.3bn and 1,127 deals; Covid-19 'era highs' in 2021 of $49.8bn/2,721; and pre-Covid figures in 2019 of $22.4bn/1,591. 'Investor caution remains elevated, with a marked shift toward more mature start-ups boasting proven business models. This has led to a sharp reduction in seed and early-stage funding,' PitchBook noted in the report commentary. PitchBook indicated VC investors remain selective, although it highlighted the functional foods sector 'emerged as one of the strongest near-term opportunities in food-tech amid the broader funding downturn'. PepsiCo's sizeable deal for US beverage group Poppi in March was singled out as one that 'could spur further acquisitions as major brands look to expand their functional food portfolios'. Valuations continue to be a headwind, with VC funds more demanding when it comes to the investment criteria. 'For investors, the sharp rise in median valuations signals a flight to quality, with capital being concentrated in fewer, more mature start-ups that can demonstrate proven business models and scalability,' the report, led by PitchBook's senior research analyst for food-tech Alex Frederick, suggested. 'For start-ups, the environment is increasingly challenging, especially at the early stage, where median valuations have dropped to $6.1 million from $12.1 million in 2021, reflecting tougher fundraising conditions and elevated expectations from investors.' The insights report added: 'Start-ups must demonstrate not only innovation but also clear market traction, operational efficiency, and alignment with major trends such as sustainability, health, and supply chain resilience to stand out.' Despite the ongoing challenges in alternative proteins – Beyond Meat being one such example given by PitchBook – there are some areas in the space that are grabbing investor attention. 'Early-stage dealmaking in alt-proteins remains robust, particularly in fermentation,' or what PitchBook refers to as 'enabling infrastructure' in the development of the category. M&A benefited as stock market swings 'kept the IPO window closed' in the first quarter, PitchBook said, adding a note of optimism. 'As public markets begin to stabilise, IPO momentum is building across the broader VC ecosystem. While no food-tech IPOs are imminent, successful listings in other sectors will serve as important market tests.' Besides the cited PepsiCo deal being a bright spot in functional food and drinks, Frederick said: 'Alt-proteins, particularly fermentation, remained active as well despite broader headwinds for the space. 'Meanwhile, strategic M&A continued to dominate the exit landscape. With the IPO window beginning to open, companies like Trax Retail, GrubMarket, and Apeel are positioned as potential candidates for public listings.' With the growing interest in AI overall, PitchBook also suggested the food-tech sector may be losing out as interest is overshadowed from elsewhere. 'PitchBook data shows that 71% of all venture capital deployed in Q1 went to AI and machine learning (ML) start-ups. Food-tech, by contrast, has seen fewer AI-native start-ups close major rounds,' according to the report. 'As capital increasingly gravitates toward AI, generalist investors may be overlooking attractive food-tech opportunities to get AI exposure.' "Food- and drink-tech VC deals slide – research" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
