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Walmart To Acquire Minority Stake In Sustainable Beef
(RTTNews) - Retail giant Walmart, Inc. (WMT) and Sustainable Beef LLC announced Wednesday that Walmart signed an agreement to acquire a minority stake in North Platte, Nebraska-based Sustainable Beef LLC, a rancher-owned company.
Walmart's equity investment is part of a broader strategic partnership to source top-quality angus beef from Sustainable Beef LLC's new beef processing facility. As part of the investment, Walmart will also have representation on Sustainable Beef's board.
This partnership helps supplement the current beef industry and provides additional opportunities for ranchers to increase their business.
Walmart's investment will help Sustainable Beef LLC open their beef processing facility in North Platte, Nebraska. The facility is expected to break ground next month and open by late 2024, creating more than 800 new jobs.
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