Sep. 6—Walmart announced recently that it had signed an agreement to acquire a minority stake in Sustainable Beef LLC, a rancher-owned company based in North Platte, Nebraska.

The retailer said the "investment is part of a broader strategic partnership to source top-quality Angus beef from Sustainable Beef LLC's new beef processing facility."

Walmart said its investment will help the Nebraska company break ground this month on the processing plant that will open by late 2024, creating more than 800 jobs.

As part of the investment, Walmart will also have representation on Sustainable Beef's board.

"At Walmart, we are dedicated 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," Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood for Walmart U.S., said in a statement. "We know Sustainable Beef LLC 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."