Applegate acquisition a done deal

by Rebekah Schouten
Share This:
Search for similar articles by keyword: [Hormel]
Applegate turkey burgers and chicken nuggets
Applegate is a leading brand in the natural and organic value-added prepared meats category.

AUSTIN, Minn. – Hormel Foods Corp. has closed its acquisition of Applegate Farms, LLC and its Applegate brand for $775 million.

Hormel announced the proposed acquisition of the Bridgewater, NJ-based company in May.

Jeffrey M. Ettinger, chairman and CEO of Hormel Foods, expressed the company’s desire to branch into the growing organic market during a conference call with financial analysts May 27.

“… More and more consumers, especially younger consumers, are gravitating toward wanting natural and organic items,” Ettinger said. “If you wanted to be ultimately a player or a purveyor of those types of items toward the broad set of consumers, you have to figure out a way to get into the space. Your choices then are can you build it yourself, or can you team up with somebody who already has a head start? So that’s really what we’re doing here.”

Applegate is a leading brand in the natural and organic value-added prepared meats category and will operate as a stand-alone subsidiary in Hormel’s Refrigerated Foods segment.

Hormel projects Applegate’s 2015 annual sales to be about $340 million.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Meat and Poultry News do not reflect those of Meat and Poultry News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.