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Tyson investing in second alternative meat company

Tyson Foods is investing in another alternative meat company. Memphis Meats is one of the companies developing cultured meat directly from animal cells. Tyson says the investment is an example of its commitment “to explore innovative, new ways of meeting growing global demand for protein.” Tyson has also invested in Beyond Meat, a company that makes so-called “meat alternatives” from plant protein sources like soy and peas.

Tyson president and CEO Tom Hayes says although his company is a poultry and meat product leader, protein is the common denominator. Hayes says the question is how will the growing number of people who want protein, domestically and internationally, be fed, in a sustainable way and the answer is a combination of innovative and traditional approaches.

On the traditional side, he says Tyson is reinvesting in its core businesses. Hayes says investing in the alternative side is a way to give the growing population “more ways to feel good about the protein they’re eating.”

Tyson says its investment in Memphis Meats represents a minority stake in the business. The terms were not disclosed. Cargill, Bill Gates and Richard Branson are among others who have invested in the company.