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Walmart Takes Stake In This Rancher-Owned Beef Company In Nebraska

·1 min read
  • Walmart Inc (NYSE: WMThas signed an agreement to acquire a minority stake in Sustainable Beef LLC, a rancher-owned company in Nebraska.

  • The 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 partnership is expected to help supplement the beef industry and provide additional prospects for ranchers to increase 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 a beef processing facility in North Platte, Nebraska.

  • The facility is expected to open by late 2024 and create more than 800 new jobs.

  • Price Action: WMT shares are trading higher by 0.12% at $132.65 on the last check Wednesday.

  • Photo Via Company

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