Beyond Meat drops 'Meat' from name

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Beyond Meat is changing its brand to just Beyond.The El Segundo maker of plant-based proteins that look and taste like meat changed its website and social channels last week to reflect its new full name: Beyond the Plant Protein Co.“We are not moving away from making plant-based meat.

This is a strategic expansion of our portfolio into additional protein categories,” Beyond spokesperson Shira Zackai said in an email.In an Instagram post announcing the change, the company repeatedly described its products as “clean.”“We start at the farm with clean and simple, non-GMO ingredients like yellow peas, red lentils and faba beans,” the post read.

“We love clean protein and fiber.” Business Beyond Meat, the El Segundo pioneer of plant-based hamburger patties, saw its stock collapse this week after it finalized a deal to reduce its debt.In an August quarterly earnings call, Beyond Chief Executive Ethan Brown said the shortened name “provides for reduced emphasis on facsimile, a now-complicated frame that overshadows the real, high-quality protein offerings we provide to consumers.” The change also would give the company more freedom to “meet broader consumer protein needs,” Brown said on the call.The rebranding is part of a pivot to underscore its strength in protein, which is hot right now.The company launched a line of sparkling protein beverages in January.

It plans to launch a protein bar this summer.Beyond, founded in 2009 and known primarily for its pea-protein burger patties and steaks, has had some turbulent times recently.In October, the company’s stock collapsed to less than $1 per share after a debt deal, down from its peak of nearly $235 per share in 2019.

Its products were in high demand early on during the pandemic, but inflation at the supermarket has made U.S.consumers less willing to spend on premium-priced products.

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