Wednesday, August 31, 2022

Walmart buys into beef farming

Walmart is buying a minority stake in Sustainable Beef LLC, a rancher-owned company in North Platte, Neb.

It’s part of Walmart’s plan to source Angus beef for Sustainable Beef’s new processing facility in North Platte.

The plant is expected to break ground next month and open by late 2024, creating more than 800 jobs and processing 1,500 animals per day.

“We are dedicated to providing high-quality, affordable beef to our customers, and an investment in Sustainable Beef LLC will give us more access to these products,” Tyler Lehr, Walmart U.S.’s senior vice president of merchandising for deli services, meat and seafood, said.

Walmart did not disclose the amount of its investment, which comes more than two years after the retailer opened an Angus beef plant in Thomasville, Ga.