Hormel Foods : Takes Another Big Step in Plant-based Meat Alternatives

Austin's Hormel Foods Co. and Sacramento-based Better Meat Co. announced the joint venture on Wednesday. The California food startup developed a meat alternative it calls Rhiza, an all-natural whole food mycoprotein produced through a process of potato-based fermentation.

"It's critical that we give our consumers choices. Plant-based products are one choice, traditional meat is another choice," Fred Halvin, Hormel's vice president for corporate development, said in an interview. He said the company will "continue to align our portfolio with consumer trends, and we believe plant-based is a significant consumer trend."