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Ingredients:
Preheat the oven to 350°F. Pat the flank steak completely dry, cut in half or thirds (across the grain) if needed to fit into your pot in a single layer. Season with 2 teaspoons salt. Heat the olive oil in a medium Dutch oven or a large ovenproof skillet over medium-high heat. Working in batches, if necessary, add the steak in a single layer and cook until a deep brown crust develops, remove to a plate, and set aside.
Add the onions and peppers to the same pot. Season with 1 teaspoon salt and a few cracks of black pepper. Cook, stirring occasionally, until the vegetables have softened, 4 to 5 minutes.
Add the garlic, cumin, and oregano; stir until fragrant. Add the tomato paste and cook, stirring, until it starts to develop color. Add the Sherry to deglaze and cook, scraping up any browned bits from the bottom of the pot with a wooden spoon. Add the tomato sauce, beef stock and bay leaf. Stir to incorporate. Place steak in the sauce, submerging it slightly.
Cover and cook in the oven until the meat shreds easily with two forks, about 1 hour 30 minutes. Transfer the pot back to the stovetop. Remove the steak to a cutting board or medium bowl and shred into long thin pieces using two forks.
Meanwhile, simmer the sauce over low heat until slightly reduced, about 3 minutes. Return the steak to the pot and stir to combine. Add the lime juice and olives, and capers if using.
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