Beyond Meat's sizzling shares got even hotter Wednesday after Starbucks said it'll start selling a plant-based breakfast sandwich next week. The Beyond Meat sandwich topped with cheddar cheese and egg on a bun will debut at nearly all its shops in Canada next month.
The deal intensifies the already fierce rivalry between Beyond Meat and other plant-based meat producer, including Impossible Foods, Kellogg, Cargill and Nestle- which are competing for restaurant deals and shelf space at supermarkets.
Dunkin' Brands expanded its distribution of the Beyond Sausage Sandwich to all its U.S. stores in November. And McDonald's is testing burgers using Beyond Meat patties in Ontario.
Since debuting on the Nasdaq in May, Beyond Meat's shares have jumped more than four fold.
The deal comes as Starbucks faces intensified competition in the breakfast business. Burger chain Wendy's WILL SOON START serving breakfast at its U.S. outlets
Starbucks has been boosting its plant-based offerings, but its tie up with Beyond Meat marks the first time it'll sell any "fake meat" patty made from plants. Starbucks shares Also rose in early trading Wednesday.