Why Tim Horton’s is Nixing Beyond Meat
Just months after it rolled out its vegan option in thousands of locations, Tim Horton’s is pulling Beyond Meat’s burger and sandwich offerings from its menu in all provinces, excluding Ontario and British Columbia.
In a bid to stay competitive with A&W and vegan “comfort food” restaurants, Tim Horton’s recently introduced vegan meat alternatives to its breakfast items. Tim Hortons’ parent company, Restaurant Brands Inc., told Bloomberg News that the fake meat has been positively received, especially in Ontario and B.C., which makes the decision perplexing to most of us.
“Like any limited-time offer, we may explore offering the product again in other provinces at a future date based on ongoing guest feedback,” Restaurant Brands said.
“We looked at the Beyond Meat burger as a kind of limited time offer to see how [people] would react and we’re encouraged by some of the behaviour there,” Jose Cil, chief executive of Tim Horton’s, said in a statement to BNN Bloomberg. “But in the end, we’re really a coffee and baked goods business with a very strong sandwich offering with soups and other products that are natural to our restaurants.”
Tim Horton’s and Beyond Meat could still negotiate a longer agreement, he said. “I don’t interpret these reports as any indication that interest in plant-based meat at large or Beyond Meat in particular has peaked, as it is way too early to draw any such conclusions,” D.A. Davidson’s Brian Holland wrote in an email to Bloomberg News.
Is there any good news for vegan option lovers in all of this?
“The Beyond Burger will still be available for a limited time nationally. The Beyond Meat breakfast sandwiches are available in various regions while supplies last, but will continue to be available in B.C. and Ontario,” said a Tim Horton’s spokesperson in a statement.
For those of you #birchbosses trading stocks, this move likely won’t have a material impact on Beyond Meat’s shares because of the sheer volume of its existing partnerships.
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