Hormel Foods Announces Agreement to Sell Ceratti Business in Brazil
Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced it has entered into a definitive agreement to sell its Brazilian operations, operated under the CERATTI® brand to Zanchetta Alimentos LTDA, a Brazilian food company with an established presence in the market.
The divestiture reflects Hormel Foods ongoing efforts to simplify and streamline its portfolio and focus its international strategy on markets with the strongest long-term growth opportunities.
The transaction is expected to close in the coming weeks, subject to customary closing conditions, including...
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