Walmart Invests in Sustainable Beef LLC to Provide Shoppers More High-Quality Beef
Walmart and Sustainable Beef LLC announced that Walmart has agreed to buy a minority stake in Sustainable Beef LLC, a rancher-owned business situated in North Platte, Nebraska.
Walmart's equity investment is part of a larger strategic collaboration to source high-quality angus beef from Sustainable Beef LLC's new beef processing facility. This collaboration helps supplement the current beef industry and provides ranchers additional opportunities to grow their businesses. Walmart will now have a representation on the board of Sustainable Beef as part of the investment.
Walmart's investment will assist Sustainable Beef LLC in establishing a beef processing facility in North Platte, Nebraska. The facility is expected to break ground next month and open in late 2024, providing over 800 new jobs. Walmart's collaboration with Sustainable Beef LLC will increase capacity in the beef industry.
Tyler Lehr, senior vice president of merchandising for deli services, meat, and seafood, Walmart U.S., said:
"At Walmart, we are dedicated to providing high-quality, affordable beef to our customers, and investment in Sustainable Beef LLC will give us even more access to these products. We know Sustainable Beef LLC 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 improving grazing management.”
Sustainable Beef LLC will collaborate with cattle feeders and ranchers to better understand important supply chain elements such as grain sourcing and grazing management. Animal care will adhere to the Five Freedoms, and antibiotic use and reporting will be consistent across herds in line with Walmart's Position on Antibiotics in Animals, which asks suppliers to adopt and implement the American Veterinary Medical Association Judicious Use Principles of Antimicrobials. All of these elements will assist Sustainable Beef LLC in improving and refining the meat supply chain to provide quality beef to customers.
David Briggs, CEO of Sustainable Beef LLC, said:
"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 sustainably. 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 with the positive experience of enjoying quality beef.”
Source: Walmart
