The company says the facility will house three to four times its current number of R&D team members once the campus is complete. In January 2021, Beyond Meat announced that it will be opening a new global headquarters in El Segundo, CA later that year. In 2018, Beyond Meat opened a 26,000 square feet (2,400 m 2) R&D lab in El Segundo, California. It is the company's first "end-to-end manufacturing facility" outside of the United States and began full-scale production in 2021. In China, Beyond Meat operates an owned manufacturing plant in Jiaxing, Zhejiang. These two facilities service the distribution network across Europe, the Middle East and Africa.
In Europe, Beyond Meat has two facilities in the Netherlands: a co-manufacturing facility in Zoeterwoude owned and operated by Dutch company Zandbergen, and an owned facility in Enschede.
In 2020, Beyond Meat acquired a manufacturing facility in Devault, Pennsylvania. In June 2018, Beyond Meat opened its second production facility in Columbia, Missouri, resulting in a three-fold increase of the company's manufacturing space. In the United States, Beyond Meat has several manufacturing facilities in the United States, including in Columbia, Missouri, and Pennsylvania. In October 2022, the company announced a 19 % workforce reduction, or approximately 200 employees, due to revenue declines. By September 2022, the stock price had fallen to an all-time low, that was 93 % lower than the all-time high set in July 2019 and 74 % lower than at the start of 2022. Beyond Meat shifted its focus to grocery, convenience stores, and other forms of distribution during the COVID-19 pandemic. In November 2020, Beyond Meat announced sales had only grown by 2% year-on-year compared to an expected increase of 40% due to the impact of COVID-19 on foodservice sales. As of June 2021, Beyond Meat had a market cap of $9.44 billion. On the day of its IPO, the company was valued at $3.8 billion and was the best-performing public offering by a major U.S. It is the first plant-based meat analogue company to go public. In May 2019, Beyond Meat went public and trades on the United States Nasdaq exchange under the symbol BYND. Beyond Meat is also backed by celebrity and athlete investors such as Leonardo DiCaprio, Jessica Chastain, Snoop Dogg, Liza Koshy, Chris Paul, Kyrie Irving, DeAndre Hopkins and others. īy 2018, Beyond Meat had raised US$72 million in venture financing. Tyson Foods purchased a 5% stake in Beyond Meat in October 2016, but sold its 6.5% stake and exited the investment in April 2019, ahead of the company's initial public offering. Over the years 2013 to 2016, the company received venture funding from GreatPoint Ventures, Kleiner Perkins, Obvious Corporation, Bill Gates, Biz Stone, the Humane Society and Tyson Foods. The People for the Ethical Treatment of Animals (PETA) named Beyond Meat as its Company of the Year for 2013. In 2014, Beyond Meat developed its first plant-based beef product, Beyond Beef Crumbles, and has since expanded into plant-based pork. Upon licensing Hsieh and Huff's technology, Beyond Meat launched its first product, Beyond Chicken Strips (originally called "Chicken-Free Strips"), at Whole Foods in 2012 and expanded nationally in 2013. Brown initially contacted two University of Missouri professors, Fu-hung Hsieh and Harold Huff, who had been developing their meatless protein for years. History A Beyond burger served at a restaurant in Tuolumne County, California, United States FoundingĮthan Brown founded the company in 2009 with the stated mission of combating climate change. The company went public in 2019, becoming the first plant-based meat analogue company to go public. The company's initial products were launched in the United States in 2012. is a Los Angeles–based producer of plant-based meat substitutes founded in 2009 by Ethan Brown.
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