Walmart signed an agreement to acquire a minority interest in Sustainable Beef LLC, a rancher-owned company based in North Platte, Nebraska. Walmart’s equity investment is part of a strategic partnership to source high-quality angus beef from Sustainable Beef LLC’s new beef processing plant.
Through a statement , Walmart and Sustainable Beef LLC note that the partnership helps complement the current beef industry and provides additional opportunities for ranchers to grow their businesses.
“At Walmart, we are dedicated to providing affordable, high-quality beef to our customers, and an investment in Sustainable Beef LLC will give us even more access to these products,” said Tyler Lehr, senior vice president of merchandising for Walmart US
“We know that Sustainable Beef LLC has a responsible approach to beef processing , which includes creating long-term growth for ranchers and family farmers. This investment provides greater visibility of the beef supply chain and complements Walmart’s regeneration commitment to improve grazing management,” added Lehr.
Walmart’s investment will help Sustainable Beef LLC to open its beef processing plant in North Platte, Nebraska, creating more capacity for the beef industry. The facility is expected to break ground next month and open by the end of 2024, creating more than 800 new jobs. work.
“We started a journey two years ago to create a new beef processing plant to add some capacity to the industry and provide an opportunity for producers to integrate their business of raising quality cattle with the beef processing part of the industry and do it in a sustainable way, said David Briggs, CEO of Sustainable Beef LLC. “During this journey, we discovered that Sustainable Beef and Walmart have aligned to continue improving the way we care for our animals and crops and provide consumers with the positive experience of enjoying quality beef.”
According to the release, Walmart’s investment in Sustainable Beef LLC is the latest step in the retailer’s commitment to increasing access to high-quality beef at an affordable price for its customers, while increasing the capacity of the beef industry and ensuring long-term economic viability for farmers.
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