Wal-Mart to Invest in Texas Minority Business

By  | 

A Texas frozen-food company will be the first to get an investment from a Wal-Mart fund launched as a way to reach out to minorities.

Wal-Mart said yesterday it would back Mansfield-based food processor Simeus Foods International.

The black-owned company is to get five (m) million dollar from the Wal-Mart fund.

The world's largest retailer announced the 25 (m) million dollar private equity fund last year. Wal-Mart said it wanted to help growth of businesses owned by women and minorities.