WAIMEA, Hawaii, December 23, 2022 /PRNewswire/ — Waimea Butcher Shop and Parker Ranch, Inc. today announced that it has signed a term sheet to enter into a strategic alliance. Under the terms of the partnership, Parker Ranch, Inc. will become a shareholder in the existing business of Waimea Butcher Shop and its strategic capital partner for future growth opportunities. In addition, Stovall Mills will continue to manage the day-to-day operations of Waimea Butcher Shop as manager and majority owner. The deal is expected to close in early 2023.
The alliance is closely linked to Parker Ranch’s strategic priorities to invest in Waimea, supporting the local agricultural ecosystem and sustainability. Mills Stovall shares these values with Parker Ranch. Mills’ vision is to run a sustainable, local business that only offers products from the Big Island. The plan for the new partnership is to continue to offer beef from different ranch brands based on the principle of “open” architecture to help ranches grow their brands and gain access to retail customers.
One of the major consumer trends of recent years has been the strong interest in knowing where our food comes from, where it comes from and how producers produce it. There is also a strong “eat local” movement that supports buying local food rather than imported products. Waimea Butcher Shop caters to discerning customers who want to know that the product they are buying and nurturing to their families has integrity, authenticity and an authentic story.
According to Stovall Mills“We want to provide market access to ranches that meet our specifications for quality and consistency. Our goal is to offer fresh beef 52 weeks a year, so we need a steady supply from ranches that have demonstrated their ability to manage resources responsibly and who consistently produce high quality products throughout the year. Parker Ranch is an ideal partner to ensure year-round supply and supports the open architecture strategy of offering beef from many different producers, ensuring harmony by balancing the interests of the ranching community through free access.”
Dutch Kuyper, President and CEO of Parker RanchInc., added, “Mills fits our definition of an entrepreneur who is willing to take the risks of starting a new business and who has the same values. He is passionate about his business, which he started 7 years ago, and his customers who love his products and his service. He has assembled a strong team of knowledgeable professionals who know their business and are obsessed with sourcing high quality local produce. We are excited about the prospects of working with Mills and look forward to helping support his business. We expect products from several ranches to continue to be offered and hope to help ensure the availability of local beef throughout the year. »
About Parker Ranch
Parker Ranch is one of the largest and oldest cattle ranches in United States. Parker RanchInc. is owned by Parker Ranch Foundation Trust whose beneficiaries are four non-profit organizations: Queen’s North Hawai`i Community Hospital, Hawai`i Preparatory Academy, Parker School and the Hawaii Community Foundation. To learn more, please visit www.parkerranch.com or www.prft.org.
About Waimea Butcher Shop
Waimea Butcher Shop is a dedicated whole animal butcher and delicatessen located in the Kamuela CBD and founded in 2016 by Stovall Mills who has over 20 years of culinary experience. Waimea Butcher Shop sources its meat from local producers on the Big Island. Waimea Butcher Shop has worked with hundreds of local businesses, including ranchers, farmers, restaurants and chefs, to support the local economy and showcase quality local produce. To learn more, please visit www.waimeabutchershop.com.
THE SOURCE Parker Ranch