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It is the second time the companies have secured an extension to allow talks to continue.
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In 2012, the rice crackers maker acquired Mary’s Gone Crackers to enter the US “better for you” market, focusing on organic and gluten-free products.
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The company attributed this revision to several factors, including “greater than expected retailer inventory destocking, higher input cost inflation, and macro uncertainty”.
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The takeover bid comes days after Melbourne-based investor Keybridge emerged from a period under external administration.
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The company said the first quarter was a “challenging period, impacted by dynamic and complex geopolitical and macroeconomic conditions”.
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A cut in guidance, continuing losses and further sales declines in the US dominate Beyond Meat’s latest results, despite a $100m fund raise.
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After the abrupt exit of its CEO, another set of disappointing results and a portfolio review, uncertainty hangs over the US food and drinks group.
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The combined business will operate 12 sites with six in Germany, five in Poland and one in Ireland.
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