Walmart Invests in Sustainable Beef to Give Affordable Options for Shoppers
Walmart has signed an agreement to acquire a minority stake in Sustainable Beef LLC, a rancher-owned company based in North Platte, Neb. Walmart’s equity investment is part of a broader strategic partnership to source top-quality angus beef from Sustainable Beef LLC’s new beef processing facility. This partnership helps supplement the current beef industry and provides additional opportunities 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 its beef processing facility in North Platte. The facility is expected to break ground next month and open by late 2024, creating more than 800 new jobs. Walmart’s work with Sustainable Beef LLC will create more capacity for the beef industry.
“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,” said Tyler Lehr, senior vice president of merchandising for deli services, meat and seafood, Walmart U.S. “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.”
The beef company will work with cattle feeders and ranchers to understand critical elements of the supply chain cycle, such as grain sourcing and grazing management. Animal care will follow the Five Freedoms, and there will be a consistent approach to antibiotic use and reporting across herds in line with Walmart’s Position on Antibiotics in Animals, which asks suppliers to adopt and implement American Veterinary Medical Association Judicious Use Principles of Antimicrobials. All of these components will help Sustainable Beef LLC to improve and refine the beef supply chain to provide quality beef for our customers.
“We set out on a journey two years ago to create a new beef processing plant to add some capacity to the industry and provide an opportunity for producers to integrate their business of raising quality cattle with the beef processing portion of the industry and do it in a sustainable manner,” said David Briggs, CEO of Sustainable Beef LLC. “During this journey we found that Sustainable Beef and Walmart aligned on continuing to improve how we care for our animals and crops and provide consumers the positive experience of enjoying quality beef.”
Walmart’s investment is the latest step in the retailer’s commitment to increasing access to high-quality beef at an affordable price for its customers, while boosting capacity for the beef industry and ensuring long-term economic viability for cattle ranchers.
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Blue Point Capital Acquires Asian Appetizer Maker Water Lilies Food
Blue Point Capital has acquired Water Lilies Food, LLC, a portfolio company of AUA Private Equity Partners, with global investment bank Harris Williams advising Water Lilies on the sale.
Water Lilies is a manufacturer of frozen Asian appetizers that are primarily sold through supermarkets, restaurants and ethnic markets.
“Water Lilies is the go-to Asian appetizer supplier for retailers, brands, and foodservice operators and has achieved impressive growth through its consistent innovation and focus on quality,” said Brant Cash, a managing director at Harris Williams. “The company experienced a tremendous amount of success during its partnership with AUA Private Equity, and we look forward to its next chapter of growth with Blue Point.”
“We continue to see a high degree of interest in value-added manufacturing platforms from both strategic buyers and financial sponsors,” said Brant Wilczek, a director at Harris Williams. “Water Lilies’ unique ability to develop premium, innovative products combined with its scale and manufacturing flexibility provides the company with tremendous runway for future growth in a category experiencing significant momentum driven by consumer demand.”
Based in Bay Shore, N.Y., Water Lilies is a manufacturer and provider of premium, inspired Asian cuisine for major retailers, private label, consumer brands and foodservice operators. Founded in 1995 with a commitment to food safety, quality and innovation, the company has established itself as a preferred partner to its customers across a variety of authentic, inspired products, with a particular focus on frozen appetizers such as egg rolls, spring rolls, potstickers, and dumplings.
AUA Private Equity is a West Palm Beach, Fla.-based, operationally focused, lower-middle market investment firm providing strategic capital to companies in the consumer products and services sectors with a particular focus on family-owned businesses. AUA Private Equity typically makes equity investments of $20 million to $75 million in companies that generate in excess of $5 million in EBITDA.
Blue Point is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland; Charlotte, N.C.; Seattle; and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower-middle market businesses to build processes and capabilities to achieve dramatic growth. The firm focuses on opportunities where it can leverage its collective experience, extensive network of operating resources, and focused add-on acquisition efforts as well as its unique toolkit, which includes supply chain/Asian capabilities, improved digital marketing or data strategies, and talent acquisition and diversification efforts. Blue Point typically invests in businesses that generate between $30 million and $300 million in revenue.
Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc.
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Central Perk Coffeehouse Breaks Into Reality
EDITOR’S NOTE: Try reading this announcement about Central Perk without having the “Friends” theme loop in your brain. We couldn’t!
Warner Bros. Themed Entertainment with CenPer Holdings, composed of industry experts from the coffee, specialty food and beverage, hospitality, and entertainment worlds — including “Top Chef” and multiple James Beard Foundation Award Winner Tom Colicchio — announced Central Perk Coffeehouse, a modern-day coffeehouse inspired by the hit TV series, opening its first location in 2023.
Imbued with the same heart and soul as the iconic setting from the series, Central Perk Coffeehouse will be a place for fans (and friends) to slow down and come together over great coffee and eats.
Fans know Central Perk as the gathering place for Rachel, Monica, Phoebe, Joey, Chandle>r, and Ross — the ultimate hang-out spot — not only to get a delicious cup of coffee but also where the gang spent much of their free time conversing and making memories. Fast forward 28 years and a modern-day version will open its real doors in 2023.
“Central Perk is more than just a coffeehouse, it was a home away from home for our six favorite ‘Friends’,” said Peter van Roden, SVP, Warner Bros. Themed Entertainment. “Working closely with the CenPer Holdings team in creating this fresh, yet familiar environment, we’re looking forward to giving fans a coffeehouse of their own — coffeehouses that captures the heart of the show while delivering a first-class coffee experience.”
While the first location and opening date will be announced soon, fans will immediately be able to get their coffee fix now with the launch of Central Perk Coffee, a line of artisanal quality coffees made with the highest quality premium Arabica beans available in three select varietals:
– “How You Doin’?” (medium roast)
– “Pivot Blend” (medium/dark roast)
– “We Were on a Coffee Break” (dark roast)
“Our goal with this partnership and the Central Perk brand,” Colicchio said, “like all of my food and beverage enterprises, is to secure the best ingredients and then deliver superior products and services for a great customer experience. With Central Perk, we can’t wait to offer friends old and new a really enjoyable premium cup of coffee and hope they settle in with us for the next chapter of this beloved story.”
Each blend is available in whole bean and ground formats, as well as BPI Certified compostable single serve coffee pods compatible with Keurig K-Cup brewers. Single Central Perk Coffee products are also available. All coffees are sustainably sourced, produced and packaged using responsible environmental practices.
Central Perk Coffee can be orderedby visiting www.centralperk.com. The first 6,000 subscribers will receive a complimentary collectable can of “How You Doin’?” coffee, a medium roast ground varietal. This individually numbered limited edition tin was created exclusively for true “Friends” fans and coffee lovers.
Fans can watch “Friends: The Reunion” special and binge all 236 episodes of the original beloved series on HBO Max.
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