Beyond Meat climbs 5% after saying it will broaden its product offerings at Walmart

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  • Beyond Meat shares climbed 5% Tuesday after the company announced an expansion of its product offerings at Walmart.
  • Beginning this week, it will be offering its Beyond Sausage Hot Italian to more than 400 Walmart stores.
  • Beyond Meat will also be expanding the frozen Cookout Classic value-pack.
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Beyond Meat shares climbed 5% Tuesday after the plant-based meat producer announced it is expanding its product offerings at Walmart.

Beginning this week, the Los Angeles-based fake meat company will be introducing its Beyond Sausage Hot Italian to more than 400 Walmart stores across the US, the company revealed in a statement Tuesday. Beyond Meat, founded in 2009, will also be expanding its frozen Cookout Classic value-pack to approximately 500 stores.

Beyond Meat’s partnership with the retail giant started in 2015. The increased distribution, the second in the past year, is part of Beyond Meat’s effort to meet consumers’ demands for plant-based products as more people become more health and environmentally conscious. The pandemic has also contributed to the rise in demand as more people cook at home.

Beyond shares climbed 2.37% to $US138.50 ($180) as of 2:48 PM ET.