06/13/2019 | Press release | Distributed by Public on 06/13/2019 05:13
Company uniquely positioned; offers plant-based and blended protein products
Springdale, Ark. - June 13, 2019 - As part of efforts to expand its protein offerings, Tyson Foods, Inc. (NSYE: TSN) today introduced the company's first plant-based and blended products, along with its new Raised & Rooted® brand. 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.
Major retail and foodservice customers have expressed interest in what Tyson Foods can bring to the alternative protein segment, which is estimated to be a multi-billion-dollar category and continues to grow. The company's depth and breadth of experience in protein product development, manufacturing, distribution and marketing, makes it uniquely positioned to introduce new plant-based and blended proteins, and drive growth.
'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,' said Noel White, president and CEO of Tyson Foods. '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.'
Earlier this year, White selected Justin Whitmore to lead all aspects of Tyson Foods' alternative proteins business, channeling Tyson Foods' capabilities to provide consumers with exciting new protein options.
'The creation of the Raised & Rooted brand is an excellent example of Tyson's ability to think big and move fast, capitalizing on our existing infrastructure,' said Whitmore. 'We began development of our alternative protein products last year and have succeeded in creating a new brand and bringing those products to market in well under a year. Customers tell us they love the taste and nutritional attributes and are excited to partner with us.'
'While most Americans still choose meat as their primary source of protein, interest in plant and blended proteins is growing significantly,' added Noelle O'Mara, Tyson Foods' chief marketing officer. 'These products appeal to a broad cross section of consumers who enjoy food from a variety of protein sources and we expect interest to continue to grow across protein types. The Raised and Rooted launch and our pipeline of innovation will reflect our consumers expectations for 100% plant based, blended, and traditional protein offerings.'
The Raised & Rooted® nuggets will launch through national retailers in late summer and the blended burgers this fall. The products have been developed by Tyson Foods' innovation, culinary and consumer insights teams in Chicago and Northwest Arkansas.
The Raised & Rooted nuggets are made from a blend of pea protein isolate and other plant ingredients and contain five grams of fiber and omega-3s, and less saturated fat than traditional nuggets. The blended burger is made with Angus beef and pea protein isolate and has fewer calories and less saturated fat than the plant-based burgers sold by several competing companies.
Aidells® Whole Blends™ products include a portfolio of fully-cooked sausage links and meatballs made with a blend of high quality, no antibiotics ever chicken and plant-based ingredients such as chickpeas, black beans, quinoa, lentils and barley.
Through Tyson Ventures, the company's venture capital fund, Tyson Foods also continues its investment in start-up companies involved in alternative proteins. Current investments include mushroom-based protein producer MycoTechnology and cell-based meat producers Memphis Meats and Future Meat Technologies.
About Tyson Foods
Tyson Foods, Inc., (NYSE: TSN) is one of the world's largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it's available and raise the world's expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company had 121,000 team members at September 29, 2018. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com
Contact: Gary Mickelson, 479-290-6111, [email protected]
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