BENTONVILLE, Ark. & NORTH PLATTE, Neb.–(BUSINESS WIRE)–Walmart and Sustainable Beef LLC announced today that Walmart signed an agreement to acquire a minority interest in Sustainable Beef LLC, a farmer-owned company based in North Platte, Nebraska. Walmart’s equity investment is part of a broader strategic partnership to source high-quality Angus beef from Sustainable Beef LLC’s new beef processing facility. This partnership helps complement the current beef industry and provides additional opportunities for farmers to grow their business. As part of the investment, Walmart will also have representation on Sustainable Beef’s board.
Walmart’s investment will help Sustainable Beef LLC open their beef processing facility in North Platte, Neb. The facility is expected to open next month and open by the end of 2024, creating more than 800 new jobs. Walmart’s work with Sustainable Beef LLC will create more capacity for the beef industry.
“At Walmart, we are committed to providing high-quality, affordable beef to our customers, and an investment in Sustainable Beef LLC will give us even more access to these products,” said Tyler Lehr, vice president of top of trade for food services. meat and seafood, Walmart US “We know that Sustainable Beef LLC takes 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 commitment to regeneration to improve pasture management.
Sustainable Beef LLC will work with livestock suppliers and farmers to understand critical elements of the supply chain cycle, such as grain sourcing and grazing management. Animal Care will follow the Five Freedoms and take a consistent approach to the use and reporting of antibiotics across herds in accordance with Walmart’s Position on Antibiotics in Animals, which requires suppliers to adopt and implement the Principles of Fair Use of Antimicrobials of the American Veterinary Medical Association. All of these components will help Sustainable Beef LLC to improve and refine the beef supply chain to provide quality beef to our customers.
“We embarked on a journey two years ago to establish 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 trip we found that Sustainable Beef and Walmart aligned to continue to improve how we care for our animals and crops and provide consumers with the positive experience of enjoying quality beef.”
Walmart’s investment in Sustainable Beef LLC is the latest step in the retailer’s commitment to increase access to high-quality beef at an affordable price for its customers, increasing capacity for the beef industry and ensuring economic sustainability long term for cattle farmers.
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime, anywhere – in retail stores, online and through their mobile devices. Each week, approximately 230 million customers and members visit more than 10,500 stores and multiple e-commerce sites under 46 banners in 24 countries. With fiscal year 2022 revenue of $573 billion, Walmart employs approximately 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunities. Additional information about Walmart can be found by visiting https://corporate.walmart.com, on Facebook at https://facebook.com/walmart and on Twitter at https://twitter.com/walmart.
About Sustainable Beef LLC
Headquartered in North Platte, Nebraska; Sustainable Beef is building a 1,500-head-per-day beef processing plant that will employ over 800 employees and offer ranchers the opportunity to participate in a hybrid cooperative model.