GRILLiT restaurant chain acquires stake in natural organic grass-fed beef supplier
GRILLiT Inc. announced that it has acquired a 10% equity stake in Natura Foods LLC, the exclusive distributor of "Gaucho Ranch" branded South American natural and organic grass-fed beef. Additionally, the company entered into a mutually exclusive supply agreement with Natura Foods for the supply of Gaucho Ranch organic beef products for its corporate restaurant operations.
Natura Foods' Gaucho Ranch brand is dedicated to providing 100% natural and organic grass-fed beef free of antibiotics, hormones and grain from the South American Pampas of Uruguay. Gaucho Ranch cattle are fed only on vegetable proteins, without products or by-products of animal origin. The use of growth hormones is prohibited by law in Uruguay.
"We are thrilled to have the opportunity to partner with Natura Foods," said GRILLiT CEO, Ghazi Hajj. "Gaucho Ranch and GRILLiT share the same high standards of quality and health. We are excited for this partnership moving forward."
The supply agreement executed by the companies stipulates that GRILLiT shall purchase its beef exclusively from Natura Foods, and Natura Foods will supply the Gaucho Ranch brand beef only to GRILLiT restaurants in the fast casual dining restaurant sector. The company plans to integrate the beef into its menu items over the next 30 days.
Source: GRILLiT Inc.