In this file:
· Hormel Foods Fights Pork Industry Woes, Sells Fremont Facility
· Media Release: Hormel Foods Finalizes Sale of Fremont, Neb., Processing Facility
· The Hormel Foundation contributes $8.4 million in grants for Austin organizations
· Weis Markets and Hormel Foods to donate 2,225 hams to Maryland Food Bank
Hormel Foods Fights Pork Industry Woes, Sells Fremont Facility
Zacks Equity Research
December 04, 2018
Hormel Foods Corporation (HRL - Free Report) concluded the divestiture of its Fremont processing facility to Wholestone Farms, LLC. The deal, which was announced in August, was worth $30 million, conditional on certain inventory and administrative adjustments.
The deal includes a processing facility along with a multiyear contract between the two entities to supply pork inputs to Hormel Foods. Further, Hormel Foods’ management earlier stated that the Fremont facility will continue to serve as a vital part of its supply-chain structure. Incidentally, Hormel Foods is committed toward strengthening its supply-chain network, with focus on all areas right from procurement to shipment. This is likely to result in efficient optimization.
Clearly, Fremont facility’s sale to Wholestone Farms reflects Hormel Foods’ strategy to keep pace with the evolving pork industry dynamics. Well, an unstable tariff environment has made things tough for Hormel Foods. Evidently, higher tariffs in core markets weighed on fresh pork export volumes, sales and profits at Hormel Foods’ International division during the fourth and third quarters of fiscal 2018. Also, lower pork market weighed on pricing in the Refrigerated Foods segment.
The company expects global trade uncertainties to remain a hurdle for fresh pork exports. Management also highlighted that domestic pork prices have declined due to abundant supply of other meat products. Additionally, commodity market volatility is a persistent headwind for the company. This weighed on the company’s organic volumes and sales during the fourth quarter. Commodity market conditions have been impaired mainly due to lower harvest levels and industry margins.
Nonetheless, strong demand for popular brands like Hormel Black Label bacon, SPAM, Muscle Milk and Wholly Guacamole dips are expected to continue driving the company’s revenues. In fact, gains from popular brands drove performance in the Refrigerated Foods and International categories during the fourth quarter of fiscal 2018…
more, including chart
Hormel Foods Finalizes Sale of Fremont, Neb., Processing Facility
Source: Hormel Foods Corporation
via PRNewswire - Dec 3, 2018
AUSTIN, Minn., Dec. 3, 2018 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL) today announced it has completed the sale of its Fremont, Neb., processing facility to Wholestone Farms, LLC.
The transaction includes a processing facility and a multiyear agreement to supply pork raw materials to Hormel Foods. The current Fremont plant management team and workforce will remain in place to ensure business continuity for all stakeholders. The purchase price was $30 million in cash, subject to select inventory and administrative adjustments.
ABOUT HORMEL FOODS — Inspired People. Inspired Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across more than 80 countries worldwide. Its brands include SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin's®, Wholly Guacamole®, Hormel® Black Label®, Columbus® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of "The 100 Best Corporate Citizens" by Corporate Responsibility Magazine for the 10th year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future — Inspired People. Inspired Food.™ — focusing on its legacy of innovation. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/.
SOURCE Hormel Foods Corporation
The Hormel Foundation contributes $8.4 million in grants for Austin organizations
Austin Daily Herald (MN)
December 4, 2018
In the spirit of giving, several Austin organizations will be seeing some additional support thanks to The Hormel Foundation’s announcement on Monday morning.
The Hormel Foundation approved a budget of $8.4 million for 2019 grants to benefit the foundation’s supported organizations. Included among that list are: the Austin Area Foundation, Austin Community Charitable Fund, Austin Community Growth Ventures, Austin Community Scholarship Committee, Austin Public Schools, Cedar Valley Services, city of Austin, The Hormel Institute, Mayo Clinic Health Systems-Austin, Parenting Resource Center, Riverland Community College, The Salvation Army, United Way of Mower County and the YMCA of Austin.
“These agencies do an outstanding job of identifying and addressing many of the needs of our community,” said Jeff Ettinger, chairman of The Hormel Foundation. “We are also thankful for the hard work and success of the Hormel Foods team, as it is the dividends we receive from the company that fund these initiatives.”
Monday’s announcement also marked the first Ettinger made as the new chairman of The Hormel Foundation, succeeding former chairman Gary Ray...
Weis Markets and Hormel Foods to donate 2,225 hams to Maryland Food Bank
by Chris Montcalmo, NottinghamMD.com
December 3, 2018
One in nine Marylanders is facing food insecurity, and Weis Markets and Hormel Foods are working with the Maryland Food Bank to help support families in need this holiday season.
Weis and Hormel Foods will donate 7,600 pounds of ham, or 2,225 hams, to the Maryland Food Bank as part of the Hormel® Cure 81® Hams for Hunger program, which has partnered with retailers to donate over $13 million in hams to those in need since 1989. The hams, delivered in conjunction with the Weis Markets’ Fight Hunger Program, will provide over 15,000 meals to food insecure families in Maryland.
Weis Markets, Hormel Foods, and Maryland Food Bank representatives will...