Hormel buys organic meats processor
By Canadian Packaging staff
General acquisition Applegate Farms Hormel Hormel Foods Corporation Skippy Spam StaggThe $775-million deal nets Hormel Foods a natural portfolio addition.
AUSTIN, MN—Hormel Foods Corporation, the makers of Spam (yum!) have purchased Applegate Farms, an organic processed meats company, for US$775-million.
Hormel is aware that there is a growing market for natural and organic products, adding Applegate’s deli meats, frozen burgers and dinner sausages to a line-up that already included such well known brands as Spam, Skippy peanut butter, and all those canned Hormel and Stagg chili meals.
The good news for Applegate employees is that the 100 workers at the Bridgewater, NJ facility should be safe, as Applegate will operate as a standalone subsidiary after the completion of the deal.
Company information on Hormel can be found at www.hormelfoods.com.
More information on Applegate Farms at www.applegate.com.
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