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Walmart to invest $257 million in beef-packing plant in Kansas

Published 06/13/2023, 11:20 AM
Updated 06/13/2023, 11:36 AM
© Reuters. FILE PHOTO: The logo of Down Jones Industrial Average stock market index listed company Walmart is shown on one of its stores in Encinitas, California April 13, 2016.  REUTERS/Mike Blake
WMT
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(Reuters) - Walmart (NYSE:WMT) 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.

© Reuters. FILE PHOTO: Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

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.

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