Perdue Farms, Inc., a 98-year-old poultry company, is looking to gain market share in the growing plant-based meat industry. “Our vision is to be the most trusted name in premium protein,” Perdue Chairman Jim Perdue, grandson of the company’s founder, said. “It doesn’t say premium meat protein, just premium protein. That’s where consumers are going.” Perdue’s plan is similar to that of its competitor Tyson Foods, which also aims to transition to a “protein” company by diversifying its business to include proprietary plant-based products (such as its plant-based snack brand Green Street) and investing in existing vegan meat companies (such as Beyond Meat). While its chairman believes that the clean-meat industry is still in its infancy, Perdue is also considering expanding its scope to support the slaughter-free technology, which both Tyson and Cargill have already done through investments into companies such as Memphis Meats and Israel-based Future Meat Technologies.
Courtesy of Beyond Meat