£1bn vegan firm float

A VEGAN food firm backed by Bill Gates is preparing to float for almost £1bn amid a craze for the diet.

Beyond Meat, which makes burgers and sausages from plants, plans to list in New york with a price tag of up to £920m.

Its burgers mostly consist of protein powder made out of peas. Its products were launched in the UK last November, and they are on sale in Tesco.

Investors include billionaire Microsoft boss Gates and film star Leonardo Dicaprio, as well as US firm Tyson Foods, the world’s second-largest processor of beef, pork and chicken.

Veganism has soared in popularity, with 542,000 people now shunning animal products in Britain.