Hormel Foods Corporation to consolidate food segments

fb2a03d6-02c7-44fa-a466-1768a2b965e9articleimage.jpg

23 Nov 2017 --- Hormel Foods Corporation’s Specialty Foods segment has been merged into its Grocery Products segment. The primary focus of the segment is on delivering a strong branded portfolio of leading products to the evolving retail environment of food, drug, mass, club and E-commerce.

It will continue to be led by Luis Marconi, group vice president, Grocery Products.

“I am confident that the consolidation of these two segments will deliver revenue and cost synergies in all aspects of the business while continuing to deliver industry-leading growth,” says Jim Snee, chairman of the board, president and CEO at Hormel Foods. 

“The Grocery Products segment will be a model for strategic management of iconic brands such as the SPAM family of products and SKIPPY peanut butter products, while also nurturing the continued growth of franchises like Wholly Guacamole dips, Muscle Milk protein products and Justin’s nut butters,” Snee says.

The Grocery Products segment has delivered consistent, profitable growth with a focus on category-defining legacy brands, nut butters and multi-cultural food innovation. Specialty Foods portfolio consists of health and nutrition products including Muscle Milk protein products.

Earlier this month Hormel Foods announced the acquisition of Columbus Manufacturing, Inc., an authentic, premium deli meat and salami company, from Chicago-based Arbor Investments for approximately US$850 million. 

This strategic acquisition positions Hormel Foods as a total deli solutions provider and enhances its other strong deli brands such as Hormel, Jennie-O, Applegate and Di Lusso. 

To contact our editorial team please email us at editorial@cnsmedia.com

Related Articles

Business News

Unilever reports strong growth in Q1, maintains outlook

19 Apr 2018 --- Anglo-Dutch consumer goods giant, Unilever, has reported its Q1 sales figures that met expectations, boosted mainly by increases in the volume of products sold, and maintained its financial full-year outlook.

Food Ingredients News

Sustainable solutions key drivers for innovation at Empack 2018

18 Apr 2018 --- Sustainable packaging solutions were the pulse of this year’s Empack, held in Utrecht, the Netherlands. Empack aims to display on-trend marketing innovations, trends and technology in all things packaging. FoodIngredientsFirst visited Empack to gain an insight into some of the innovations that dominated the show.

Nutrition & Health News

Next-generation yeast: Renaissance BioScience partners with Mitacs

17 Apr 2018 --- Leading global yeast technology company, Renaissance BioScience Corporation, has announced a Cdn$1.44 million multi-year research and development project with Mitacs, a national not-for-profit research and training organization. Mitacs will provide matching funding to the RBSC project to support the development of next-generation, systematic tools and methods for expanding, screening and selecting biodiversity in non-GMO industrial yeast strains.

Food Ingredients News

Weekly Digest: Symrise reaffirmed as a sustainable company, Givaudan launches digital campaign which “engages the senses”

13 Apr 2018 --- This week in business, the Ethibel Sustainability Index (ESI) Europe has reaffirmed Symrise as a sustainable company and IFF announced its newly published 2017 sustainability report that it has already surpassed its 2020 goals for water and greenhouse gas emissions amongst other achievements. Olam International has launched the Olam Living Landscapes Policy (OLLP) which supports a Net-Positive approach to agricultural supply chains and landscape management.

Food Ingredients News

Acrylamide regulation: Frutarom’s new solution, DSM steps up mitigation measures

12 Apr 2018 --- The introduction of the new EU regulation concerning acrylamide levels in food has given added impetus for manufacturers to mitigate the substance in their products. Coming into force yesterday (April 11), the benchmark levels that have been set for various products and several key companies are coming forward with acrylamide reducing solutions.

More Articles