Starbucks Corporation (NASDAQ: SBUX) launched a new breakfast sandwich Tuesday featuring plant-based food maker Impossible Foods, in a potential blow to rival Beyond Meat Inc (NASDAQ: BYND). What Happened: Starbucks is adding a new Impossible breakfast sandwich to its U.S. food menu, and CNBC's Aditi Roy said it gives Impossible a "huge win" over its rivals.Beyond and Impossible have been fiercely battling within the fast-food space to gain new exposure.Impossible's products will be included at 15,000 Starbucks stores, and Roy said this triples the number of restaurants that sell Impossible products. Beyond recently won a deal to supply Starbucks stores in China with its plant-based products. Beyond's items can also be found in Canadian Starbucks stores.Why It's Important: Impossible has faced supply chain issues that may have prevented a large-scale deal with a major restaurant.This time around, the plant-based food maker struck a relationship with a large manufacturer that gives it ample capacity to ramp production.The new partnership comes at a time when traditional beef companies are experiencing forced shutdowns and supply issues due to the COVID-19 pandemic.But Impossible's facilities are very different compared to meat rivals.It is heavily automated, with separation between people even under normal circumstances, said CNBC's Roy. What's Next: The breakfast sandwich is now available at the majority of Starbucks stores as part of the summer menu.SBUX, BYND Price Action: Starbucks shares were up 0.44% at $75.74 at the time of publication, while Beyond Meat shares were down 3.36% at $154.26. Related Links:Impossible Foods Scores Big Win In Legal Battle With NestleImpossible Foods Slashes Prices By 15% On AveragePhoto courtesy of Starbucks. See more from Benzinga * Highlights From The Starbucks Update On US, China: Coffee Chain Sees 'Rapidly Evolving' Consumer Preferences * Why Cramer Favors Chipotle, Starbucks And Wendy's Post-Coronavirus Shutdown * Retail Pro Says Giants Like Amazon, Walmart Will Prevail After Coronavirus: 'It's Not Fair'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
