Hormel Foods Expands Further into Proteins with $1.06 Billion Acquisition
Dow Jones
Yesterday
Hormel Foods won't just be about making turkey and canned lunch meat Spam anymore.
The food company announced Wednesday it will acquire Brakebush Brothers, a chicken manufacturer, for approximately $1.06 billion. The transaction is expected to close during Hormel Foods' fiscal first quarter in 2027.
The acquisition will further expand Hormel Foods' protein offerings, expanding the company's position in value-added chicken. Hormel expects the acqusition to strengthen its foodservice platform, which features its protein options, by improving operator relationships, category expertise, and an expanded direct sales organization.
Hormel said it anticipates the acquisition will increase the company's core profitability beginning in fiscal 2028.
Shares of Hormel Foods rose 1.5% to $20.15 on Wednesday.
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