EL SEGUNDO, Calif. — Beyond Meat Inc. launched its newest offering, a steak substitute, in high-profile grocers nationwide on Monday.
Beyond Steak will now be available at Walmart, Kroger, Albertsons, Ahold Delhaize, Jewel-Osco, Sprouts and other grocers, CNBC reported.
According to The Wall Street Journal, El Segundo, California-based Beyond Meat already sells meatless products, such as burgers and meatballs, in grocery stores and to restaurants, but its sales have plummeted in the past month.
Earlier this month, the company ousted Chief Operating Officer Doug Ramsey after he was arrested for allegedly biting another man’s nose.
The company also announced the departure of its chief financial officer, the elimination of the chief growth officer role and plans to cut 19% of its workforce, or roughly 200 employees, CNBC reported.
Beyond Meat’s stock price has plunged by more than 80% in the past year, the Journal reported.
According to CNBC, the fava bean-based Beyond Steak contains 21 grams of protein per serving, no cholesterol and lower saturated fat content than traditional beef steak.
The 10-ounce packages containing bite-sized pieces are expected to retail for about $7.99 each, the network reported.
At its financial height in July 2019, Beyond Meat was valued at about $13.4 billion. That figure currently hovers closer to $821 million, CNBC reported.
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