Nestle may extend plant-based burger partnerships

ZURICH – Nestle could expand its plant-based burger sales partnership with fast food chain McDonald’s beyond Germany and is also looking for other partners, the Swiss food giant’s head said on Tuesday.

“McDonald’s is an exciting and big customer, but it is not the only option and we have quite good capacity to cope with a (possible) extension beyond Germany,” Marco Settembri, the Chief Executive of Nestle’s Europe, Middle East and North Africa business said.

The market for meat substitutes could soar to $140 billion over the next decade, according to Barclays, as many health- and climate-conscious consumers seek to reduce their meat consumption.

Nestle launched its plant-based Incredible Burger in April under the Garden Gourmet brand in several European countries.

The same month, McDonald’s started selling the patties as “Big Vegan TS” in its 1,500 restaurants in Germany.

Early results of the launch in Germany were promising, Settembri said.

“For both (of us), if we do it, if we go ahead, we want to do it right. We have capacity of course, but we really need to plan it and we need to do it well,” he told a Deutsche Bank conference.