Walmart (NYSE:WMT) Inc said on Wednesday it would enter the U.S. beef industry by creating an end-to-end supply chain of Angus beef, as it looks to offer higher quality meat to customers in an intensely competitive grocery industry.
The world’s largest retailer said it had roped in several farmers to supply it with a selection of Angus beef cuts such as steaks and roasts to be sold in 500 Walmart stores across a number of states in the U.S. southeast.
“As clean labels, traceability and transparency become more and more important to customers, we’ve made plans to enter into the beef industry,” said Scott Neal, senior vice president, meat, Walmart U.S.
Walmart’s efforts to seek more control over its supply chain comes after it switched to selling high-grade Angus beef in 2017.
Currently, Tyson Foods Inc (NYSE:TSN) and Cargill Incare among its suppliers of Angus beef.
A company spokeswoman said Walmart would offer its Angus beef products at similar prices to those sourced from its third-party suppliers.Tyson shares were down about 1 percent./Reuters