Walmart has agreed to acquire a minority stake in Sustainable Beef, a rancher-owned company based in Nebraska, US.
The retail giant is investing in agriculture and food production as consumers eat differently and want to know more about where their food comes from.
The strategic partnership comes as Walmart looks to source “top-quality” Angus beef from Sustainable Beef’s new processing facility, which is expected to open in 2024, creating 800 jobs. The investment helps supplement the current beef industry and provides additional opportunities for ranchers to increase their business.
Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood at Walmart US, said: “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.”
Working with cattle feeders and ranchers, Sustainable Beef will aim to improve and refine the beef supply chain. Animal care will follow the ‘Five Freedoms’ and a consistent approach to antibiotic use will be implemented in line with American Veterinary Medical Association standards.
The partnership aims to ensure long-term economic viability for cattle ranchers. “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,” added David Briggs, CEO of Sustainable Beef.
© FoodBev Media Ltd 2022
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