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Tyson Foods Sells Stake in Beyond Meat

 

Starting Fresh WithTheir Own Protein Product

 

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Tyson Foods Inc.'s venture capital arm, Tyson Ventures, has sold its stake in plant-based protein startup Beyond Meat, regulatory filings show.

The sale was first reported by Axios' Pro Rata e-newsletter.

Tyson, of Springdale, had invested about $23 million in the company. It purchased a 5 percent stake for $15 million in 2016, then added another 1.5 percent stake later that year for about $8 million.

Financial terms of the sale weren't available. In a statement, the meat processor said it was pleased with its investment and "the time is right to exit."

"Beyond Meat provided an early opportunity for Tyson Ventures to invest in plant-based protein products that many consumers are seeking. We wish the leadership of Beyond Meat all the best," the company said.

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