Walmart acquires a minority stake in Sustainable Beef
Walmart and Sustainable Beef announced that Walmart signed an agreement to acquire a minority stake in Sustainable Beef, a rancher-owned company based in North Platte, Nebraska. Walmart’s equity investment is part of a broader strategic partnership to source top-quality angus beef from Sustainable Beef’s new beef processing facility. This partnership helps supplement the current beef industry and provides additional opportunities for ranchers to increase their business. As part of the investment, Walmart will also have representation on Sustainable Beef’s board.
Walmart’s investment will help Sustainable Beef open their beef processing facility in North Platte, Neb. The facility is expected to break ground next month and open by late 2024, creating more than 800 new jobs. Walmart’s work with Sustainable Beef will create more capacity for the beef industry.
“At Walmart, we are dedicated to providing high-quality, affordable beef to our customers, and an investment in Sustainable Beef will give us even more access to these products,” said Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood, Walmart U.S. “We know Sustainable Beef has a responsible approach to beef processing, one that includes creating long-term growth for cattle ranchers and family farmers. This investment provides greater visibility into the beef supply chain and complements Walmart’s regeneration commitment to improve grazing management.”
Sustainable Beef will work with cattle feeders and ranchers to understand critical elements of the supply chain cycle, such as grain sourcing and grazing management. Animal care will follow the Five Freedoms, and there will be a consistent approach to antibiotic use and reporting across herds in line with Walmart's Position on Antibiotics in Animals, which asks suppliers to adopt and implement American Veterinary Medical Association Judicious Use Principles of Antimicrobials. All of these components will help Sustainable Beef to improve and refine the beef supply chain to provide quality beef for our customers.
“We set out on 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 portion of the industry and do it in a sustainable manner, said David Briggs, CEO of Sustainable Beef. “During this journey we found that Sustainable Beef and Walmart aligned on continuing to improve how we care for our animals and crops and provide consumers the positive experience of enjoying quality beef.”
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 boosting capacity for the beef industry and ensuring long-term economic viability for cattle ranchers.
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