Walmart announced it has acquired a minority stake in the rancher-owned Sustainable Beef LLC, which plans to build a beef processing plant in North Platte, NE.
“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,” the company said in a press release.
“This partnership helps supplement the current beef industry and provides additional opportunities for ranchers to increase their business.”
Walmart will also have representation on Sustainable Beef’s board. The investment will help the processor break ground and open by late 2024. Animal care will follow the “Five Freedoms” and will follow Walmart’s position on antibiotics in animals, which asks suppliers to adopt and implement the American Veterinary Medical Association’s judicious use principles of antimicrobials.
“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 the positive experience of enjoying quality beef,” said David Briggs, CEO of Sustainable Beef LLC.
