Shares of Beyond Meat rose as much as 16 per cent on Wednesday after Restaurant Brands International Inc’s coffee chain Tim Hortons said it had launched breakfast sandwiches with the vegan burger marker’s plant-based sausages.
Tim Hortons said it is testing the vegan market as demand for vegan alternatives grows in Canada.
Beyond Meat’s shares have nearly doubled since its debut on the Nasdaq earlier this month, taking its market capitalization to $5.35 billion at a high of $91.80.
German discount supermarket chain Lidl in a statement on Wednesday said it would be the country’s first grocery chain to offer Beyond Meat burgers during a trial period starting May 29.
“We very much look forward to seeing the response to our campaign,” the company said.
Beyond Meat’s burgers and sausages are also featured on U.S. fast-food restaurant Carl’s Jr’s menu.