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18 May 2019, 04:49 | Hattie Nash
Restaurant Brands Burger King Tim Hortons , The Canadian Press
"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", says Alex Macedo, President of Tim Hortons in a release.
The parent company of Burger King, Popeyes Louisiana Kitchen and Tim Hortons is primed for aggressive expansion in the coming years.
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Tim Hortons has more than 4,800 system wide restaurants located in Canada, the United States and around the globe. Visit MarketWatch.com for more information on this news.
Using the Beyond Meat Sausage patty, Tim Hortons is trying out a Beyond Meat Breakfast Sandwich, a Beyond Meat Farmers Breakfast Wrap and a Beyond Meat Vegan Sandwich at select stores in Canada. But with its shares now trading for more than 50 times sales, investors may want to wait for a pullback in Beyond Meat's stock price before buying in to this sizzling recent IPO. This helped the NASDAQ-listed company to almost double its stock prices since its public debut earlier this month.
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Beyond Meat shares skyrocketed when the company went public in early May, with shares soaring 163% on its first day of trading.
Menu innovations like a move into plant-based meat substitutes could also attract new customers. On the other hand, Beyond Meat had struck a deal with Amazon's Whole Foods Market to exclusively carry its product.
Just recently, Burger King announced that it would be selling a vegetarian version of its popular Whopper burger using Impossible Food's patties. The firm also partnered with German supermarket chain Lidl, which will also start carrying its products starting next month.
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