Big players in the packaged food industry have used a tactic of “if you can’t beat ’em, acquire ’em” when it comes to brands in the natural and organic foods sector. Yet what initially seemed like perfect corporate marriages of convenience may not be working out as well as anyone had originally planned. [More]
Our world is one where people go crazy over novel presentations of beloved snacks, but also one where people are seeking snacks full of protein. That’s why it really shouldn’t surprise anyone that Hormel, best known as the maker of Spam, is expanding into new, snack-size iterations of their meat and peanut butter products. [More]
In a sign of the times, Hormel Foods Corp., the maker of Spam, is trying for that natural foods feeling and has decided that buying Applegate Farms for $775 million is the way to achieve it. [More]
In the midst of a major avian flu outbreak, Hormel says the fallout from the virus will mean it sells fewer turkeys this year, after losing 1.7 million birds on 28 farms in Minnesota. [More]
Hormel Foods Brands added to its already diverse portfolio by making a move to purchase CytoSport Holdings, the maker of supplement brands such as Muscle Milk. [More]
Maybe it’s just the refreshing feeling of a brand new year, but this week has already seen a lot of action when it comes to companies buying other companies/brands. Yesterday Avis announced it was buying Zipcar, and today Hormel says it’s handing over $700 million to buy Skippy peanut butter from Unilever. [More]
As Americans get ready to gorge on Thanksgiving turkey, some bad news for the makers of meat in this country — earnings at the biggest companies are down, which could mean higher prices for consumers. [More]
Spam. It’s cheap, it’s versatile, and I’ve been told that some people even find it edible. Sales of all canned food, including canned meat, are up in the recession, and Hormel’s new strategy is to promote Spam as something different for people to rotate into their monotonous meal plans.
Remember last year when all the food manufacturers were raising prices and shrinking portions because the cost of raw materials had risen dramatically? Now that costs are down, they’re reluctant to lower prices. It’s a good time to be in the food business.