(Reuters) – Walmart said on Tuesday it would invest $257 million to open a beef-packing plant in Olathe, Kansas in 2025, which would create more than 600 jobs.
The facility will package and distribute cuts of the higher grade Angus beef from Sustainable Beef LLC. Walmart had acquired a minority stake in the ranch-based beef processing plant last year, which is expected to be functional in late-2024.
The company’s investment plans come at a time when consumers have been trading down to cheaper private labels due to high inflation.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Shilpi Majumdar)