Sun Sentinel Broward Edition

No beef here: Tyson invests in fake-meat firm.

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Plant-based patties made to resemble, sizzle and even bleed like meat have the potential to wean wavering carnivores from animal-based proteins.

Encouragin­g such a trend would seem to pose a serious financial threat to Tyson Foods, the largest U.S. meat processor.

Except Tyson has a stake in Beyond Meat, which makes such burgers, and could someday buy the California-based company. Another Tyson investment is Memphis Meats, a Silicon Valley lab-grown meat startup. Consumers aren’t likely to see slaughter-free chicken or steak in the store anytime soon, but Tyson is readying for that future.

In the near future, alternativ­e proteins won’t take much of a bite out of Tyson’s core business of beef, chicken, pork and prepared foods, which brought in more than $38 billion in revenue last year. But as more consumers shift toward foods they consider to be healthier and more sustainabl­y sourced, Tyson’s venture capital arm wants to meet them there. Other food companies like Campbell Soup, General Mills and Kraft Heinz also have venture capital funds.

Tyson, like other giant food corporatio­ns, is using venture capital investment­s to partner with emerging food startups focused on sustainabi­lity and technology. Launched in 2016 with $150 million, Tyson Ventures now has stakes in four companies. The amounts of the investment­s are undisclose­d, but it owns less than 20 percent of each startup. While Tyson could acquire these companies outright, other outcomes are also possible, including early exits and joint ventures.

Justin Whitmore, the boss and one of three members of the Tyson Ventures team, emphasized that Tyson’s many farmers and ranchers will still be key to the company’s global future. But he also acknowledg­ed a shift in the company’s mission since CEO Tom Hayes took over last year. Under Hayes, Tyson’s striving to be a protein company, not just a meat company, Whitmore said.

“I can’t express enough that we do see a world where there will be multiple types of protein products available. That could include (plant)-based protein next to pork, next to maybe even lab-grown protein and consumers will have a choice,” said Whitmore, Tyson’s chief sustainabi­lity officer.

Only 1 in 6 American consumers eat meat alternativ­es at least once a week, according to the global market research firm Mintel. But that number is likely to grow, as reflected by an increasing number of fake-meat options on restaurant menus, said Billy Roberts, senior food and drink analyst at Mintel.

Just last week, for example, White Castle announced its Impossible Burger sliders, another plant-based burger.

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