Vegan-Burger Bet Boosts Earnings at Agribusiness Giant Bunge
- Results include $135 million gain from shares in Beyond Meat
- Company benefited from soy-crush contract timing differences
Packages of Beyond Meat Inc. plant-based burger patties.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Bunge Ltd. earnings surged in the second quarter as an investment in Beyond Meat Inc. helped cushion the 201-year-old firm from a tough environment for agribusiness. Shares rose.
Nearly half of Bunge’s better-than-expected earnings came from its investment arm’s stake in the faux-meat company. Beyond Meat has soared 680% since its May initial public offering as part of the plant-protein craze.