Hormel Foods Corporation to consolidate food segments
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.
