The meat company is disrupting itself to stay competitive as consumer habits shift toward animal-free foods.
Meat-centric company Tyson will debut plant-based snack brand Green Street later this year. During a recent conference, Tyson CEO Tom Hayes spoke about his continuing efforts to diversify the meat company to include plant-based protein. “We play across beef, pork, chicken, of course,” Hayes said. “We are also playing across plant-based protein. You've seen a lot of that, and I’m sure there’s going to be some questions about it. But we are openly disrupting ourselves to continue to drive to the next level of improvement and next level of advantage for us and our shareholders.” The Green Street brand will include plant-based protein bowls made with ingredients such as lentils, chickpeas, and quinoa. Last year, Tyson invested an undisclosed amount in vegan brand Beyond Meat through its $150 million investment arm Tyson Ventures. This year, Tyson also supported the burgeoning slaughter-free animal protein sector with an investment in Silicon Valley-based clean meat company Memphis Meats. In a December interview with Fortune, Hayes revealed that Tyson’s plant-based investments are a strategy it plans to continue in the future, stating, “If you can’t beat them, join them.”
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