Tyson Foods, Inc. (NYSE:TSN) rose after the company introduced its first plant-based and blended products line, Raised & Rooted. The initiative makes Tyson Foods the largest U.S. meat producer to enter the growing alternative protein segment with its own products.
The Raised & Rooted brand was created to provide great-tasting plant-based and blended foods that are rooted in how people eat today. The initial products under this new brand, which will launch with several major retail customers this year, include plant-based nuggets as well as blended burgers made with a combination of beef and plants.
In addition, the company’s existing Aidells® brand has launched Aidells Whole Blends™ sausage and meatballs, made with chicken and plant-based ingredients.
Tyson Foods expects to introduce additional alternative protein products through multiple customers and sales channels. This includes products under the Raised & Rooted brand and across the company’s portfolio of iconic brands, as well as to foodservice operators.
According to CEO Noel White, "Today’s consumers are seeking more protein options so we’re creating new products for the growing number of people open to flexible diets that include both meat and plant-based protein.
"For us, this is about 'and' – not 'or.' We remain firmly committed to our growing traditional meat business and expect to be a market leader in alternative protein, which is experiencing double-digit growth and could someday be a billion-dollar business for our company.”
Tyson shares began Thursday up $1.48, or 1.8%, to $83.38
