Worldwide

Hormel Foods acquires Columbus Manufacturing

The meat producer was founded in 1917 and has two production facilities in Hayward, California.

Hormel Foods announced a deal today to buy a "millennial-focused" meat firm for $850 million to expand its deli offerings.

"Columbus has an outstanding reputation in the food industry and is well-positioned in the advantaged retail deli category", Jim Snee, Hormel's president and chief executive officer, said in the news release. In August, Hormel paid $425 million for Fontanini Italian Meats and Sausages, a Chicago-based maker of Italian meats that are sold to restaurants.

Columbus will remain based in California and will be incorporated into Hormel's Refrigerated Foods business unit. Hormel also purchased Brazilian sausage and salami maker Cidade do Sol for $104 million to enter South America.

The Columbus deal dwarfs these year's transactions and surpasses all of its recent high-profile acquisitions.

Columbus reports annual sales of about $300 million.

Minnesota-based Hormel Foods, which is behind deli brands like Hormel, Jennie-O and Applegate, billed the deal as an opportunity to pick up a deli brand that is tapping into the fast-growing trend toward authentic food experiences, the company said. Hormel has been growing its portfolio through acquisitions recently.

"The synergies we can unlock with this acquisition are clear".

"In Hormel we are joining an organisation whose values and culture perfectly align with our own".



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