Industry News | June 27, 2002

Veggie Burgers to Hit McDonald's Canadian Stores

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In a move that McDonald's spokesmen says proves the company's continuing efforts to provide its customer with variety and non-traditional foods, the world's number one restaurant chain entered into an agreement with natural foodsmaker Hain Celestial Group, Inc. to begin serving Hain's veggie burgers in all McDonald's Corp.'s 1,250 Canadian stores.

"As a consumer-driven company, we sell what people buy," McDonald's company spokeswoman Anna Rozenich told Reuters, and added that McDonald's recent shift to a more decentralized management structure is helping boost regional innovation.

Hain's stock rose as much as 8 percent after the deal was announced Thursday morning. By early Thursday afternoon, the stock was up to $16.90 per share, up 4.6 percent.

Hain's CEO Irwin Siomn says he expects the partnership to help bring new customers for our products, and drive sales."

McDonald's was quick to point out that veggie burgers in Canada does not mean the company will begin offering the patties in the States. "It's not unusual for McDonald's Canada to offer a solution like this, just like McDonald's France would offer a different hamburger sandwich like they did a year ago," Rozenich said .