Tyson Foods has quietly sold its stake in alternative protein company Beyond Meat, which is expected to go public next week at a valuation north of $1 billion.
Tyson had a 6.5% ownership stake in Beyond Meat when the company filed for its IPO last November, having invested a total of $23 million between 2016 and 2017 (via its Tyson Ventures arm). It was still listed on an April 15 amended filing, but not in a subsequent one this past Monday.
Multiple sources tell Axios that tensions had been rising between the two companies, particularly after Tyson CEO Noel White said in February that the poultry giant would develop its own plant-based protein products.
full story – Axios.com