Company now transfers fully to the hands of Parker Ranch
Honolulu /PRNewswire/ - After an eight-year collaboration, Parker Ranch and Ulupono Initiative jointly announced that Parker Ranch, Inc. has acquired the equity interest in Paniolo Cattle Company, LLC held by Ulupono Holdings, LLC. The move comes in recognition of the joint-venture's success in demonstrating that a pasture-raised beef operation can work at large scale in Hawai'i.
Paniolo Cattle Company was formed in 2014 as a partnership between Parker Ranch and Ulupono Initiative to foster statewide local beef production. The pasture-to-plate enterprise taps into a growing demand for high-quality, affordable, locally raised beef. Parker Ranch now owns 100 percent of the business entity and its assets, including its brands.
"This joint venture was about demonstrating that local beef is a compelling choice for consumers compared to imports while creating an at-home thriving cattle industry that is viable and sustainable," said Dutch Kuyper, President of Parker Ranch.
"As has always been the intention, Ulupono is divesting from our successful partnership with Parker Ranch in the Paniolo Cattle Company," said Murray Clay, Ulupono Initiative's President. "After more than eight years of statewide sales to local customers, we are extremely pleased by what has been accomplished toward the demonstration that there is a viable market for local beef in the islands. Through Paniolo Cattle Company, residents now have access to quality, pasture-raised beef throughout the state."
The demand for grass-fed beef has grown significantly in recent decades. The healthy attributes of natural, grass-fed beef are attractive to discerning consumers seeking a unique high-quality choice compared to most imported beef from the mainland or elsewhere.
"Over the last 15 years or so, several ranches across the state led efforts to develop the local market for grass-fed beef even before Paniolo Cattle Company, LLC was conceived," said Kuyper. "In fact, we actually supplied some of those programs with cattle when they needed help to fill gaps in their marketing schedules. The Paniolo Cattle Co. brand became the largest in the state over the last few years as consumers demanded more and more local beef. At the same time, we began investing in advertising the brand through television and Hana Hou! – Hawaiian Airlines' inflight magazine – which led to greater brand awareness and market penetration. We are grateful for the support from Ulupono and are looking forward to the next chapter in the development of local beef in our home state of Hawai'i."
For more information about Paniolo Cattle Company, visit paniolocattle.com.
About Parker Ranch
Parker Ranch is one of the largest and oldest cattle ranches in the United States. Parker Ranch, Inc. is owned by Parker Ranch Foundation Trust whose beneficiaries are four non-profits: Queen's North Hawai'i Community Hospital, Hawai'i Preparatory Academy, Parker School and Hawai'i Community Foundation. To learn more, please visit www.parkerranch.com or www.prft.org.
About Ulupono Initiative
A mission-driven venture of The Omidyar Group, Ulupono Initiative was founded in 2009 and strives to improve the quality of life for the people of Hawai'i by working toward sustainable solutions that support and promote locally produced food, renewable energy, clean transportation, and better management of freshwater resources. For more information about Ulupono Initiative, visit ulupono.com or connect with Ulupono on Twitter, Facebook, Instagram and LinkedIn.