Walmart Invests in Vertical Farming Brand ‘Plenty’
Walmart, the iconic American multinational retail corporation, recently announced a new strategic partnership with vertical farming brand Plenty Unlimited Inc.
In addition to investing in Plenty’s equity, Walmart will join Plenty’s Board of Directors at closing as part of the partnership to use the indoor vertical farming technology platform to deliver fresh produce to Walmart stores.
Considering the demands of Walmart customers year-round, Walmart and Plenty will work together to create a new, market-leading vertical farming product category.
Thanks to Plenty’s farming technology platform, pesticide-free produce is available all year long. With its unique indoor farming architecture, it combines engineering, software, and sustainable crop science to grow multiple crops on one platform at unprecedented speeds.
“At Walmart, we are focused on identifying and investing in innovative food solutions to bring our customers the freshest, highest-quality foods at the best prices,” said Charles Redfield, chief merchandising officer, Walma