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Hormel Foods Reports Fourth Quarter and Fiscal 2020 Earnings
Hormel Foods Corporation reported results for the fourth quarter of fiscal 2020. All comparisons are to the fourth quarter of fiscal 2019 unless otherwise noted.
The impact of the Sadler's Smokehouse acquisition (March 2020) is excluded in the presentation of the fourth quarter of fiscal 2020 non-GAAP measures of organic volume and organic net sales. The impact of the CytoSport divestiture last year is excluded from...
Hormel Foods Announces the Advancement of Paul Kuehneman and Eldon Quam to Assistant Controllers
Hormel Foods Corporation announced the appointments of Paul Kuehneman and Eldon Quam to assistant controllers.
Kuehneman will lead all financial responsibilities for supply chain, Jennie-O Turkey Store and product costing, including financial analysis, management reporting and forecasting. Quam will oversee all financial operations for the Grocery Products and International segments, along with leading financial shared services, revenue and budgeting. They will both report to Jana Haynes, vice president and controller at Hormel Foods.
"Both Paul and Eldon bring expansive technical capabilities along with...
Hormel Foods Announces Plant Manager Advancements, Retirement
Hormel Foods Corporation announced the advancements of several plant managers as a result of the company's recently announced retirement and advancements in its operations leadership.
Jennie-O Turkey Store Joins the 2020 Macy's Thanksgiving Day Parade
Jennie-O Turkey Store, a wholly-owned subsidiary of Hormel Foods, a global branded food company, will debut a delectable float in the 94th annual Macy's Thanksgiving Day Parade®. During the annual spectacle, the inaugural Jennie-O float will be unveiled to more than 50 million viewers nationwide on Thursday, November 26, live from 34th Street. The addition of the Jennie-O float marks the first time the event and holiday synonymous with turkey will feature a turkey brand.
Since 1940, Jennie-O Turkey Store has helped families across America and in more than 40 countries serve traditional and innovative Thanksgiving meals while creating lasting memories...
Hormel Foods Introduces Two New Flavors of Hormel Black Label Bacon
The makers of Hormel Black Label bacon are reinventing bacon once again with the launch of – Hormel Black Label Ranch Thick Cut Bacon and Hormel Black Label Classic Country Style Thick Cut Bacon.
The Hormel Black Label team brought the flavor and versatility of ranch to life with the latest innovation of Hormel Black Label Ranch Thick Cut Bacon. Ranch lovers can rejoice, because this new flavor is hand-rubbed with ranch seasoning and naturally hardwood smoked to create an irresistible flavor.
"Our team combined American's favorite condiment with thick-cut bacon to create Hormel Black Label bacon hand-rubbed with...
Hormel Foods Appoints Leslie Lee Vice President of Digital Experience
Hormel Foods Corporation announced the appointment of Leslie Lee as vice president of digital experience.
In this role, Lee will lead the company's growing digital and e-commerce business strategy, which has seen significant growth in the last few years as more consumers look online for their favorite brands and products. Lee will oversee digital marketing, e-commerce operations and innovation, digital product management, data analytics, and...
Hormel Foods Announces Executive Retirements and Advancements
Hormel Foods Corporation announced the retirements of Donnie Temperley, vice president of Refrigerated Foods operations, and Tim Fritz, vice president of Grocery Products operations. Both retirements will be effective in spring 2021.
The company also announced the advancement of Clint Walters, currently plant manager of the company's Austin, Minn., manufacturing facility, to the position of vice president of Refrigerated Foods operations, and...
Hormel Foods Appoints Pierre Lilly Senior Vice President and Chief Compliance Officer
Global branded food company Hormel Foods Corporation announced the appointment of Pierre Lilly as senior vice president and chief compliance officer for the company's worldwide operations.
As chief compliance officer, Lilly will be responsible for overseeing compliance, risk and ethics within the organization, and ensuring compliance with laws, regulatory requirements, policies and procedures. Lilly will report to Jim Snee, chairman of the board, president and chief executive officer.
"Hormel Foods has long been committed to conducting our business with the highest level of integrity and in full compliance with...
Demand for Grass-Fed Beef Products to Boost Market Growth
The grass beef market size is poised to grow by $14.50 billion during 2020-2024, progressing at a CAGR of over 6% throughout the forecast period, according to the latest report by Technavio.
The major grass beef market growth came from the fresh grass-fed beef products segment. The awareness of the health benefits of grass-fed beef such as higher content of omega-3 fatty acids linoleic acid and antioxidant vitamins like vitamin E fuel its demand in the US, Australia, and other markets. This consequently adds to the revenue, thus boosting...
Hormel Introduces Hormel Black Label Egg Bites and Breakfast Combos
The makers of Hormel® Black Label® bacon products, a leader in breakfast meats in America, announced today the launch of Hormel™ Black Label™ Oven-Baked Egg Bites and Hormel™ Black Label™ Breakfast Combos™ breakfast items. The new convenience offerings are designed to appeal to the many millions of consumers who want a high-quality, easy-to-prepare breakfast option with protein. Both product lines come in assorted varieties.
"Breakfast is often considered the most important meal of the day, and now it's about to become the best one," said Nick Schweitzer, senior brand manager for Hormel Foods...
Hormel Partners with Papa Murphy's Pizza to Launch New Plant-Based Pepperoni Style Topping
Hormel Foods, the makers of Hormel® Pepperoni, America's No. 1 selling pepperoni brand* and the maker of the Happy Little Plants® products, are introducing new Happy Little Plants® pepperoni style topping at select Papa Murphy's locations across the country.
"Chefs and restaurateurs are very aware of today's dynamic food landscape and consumers' desire to add more plant-based foods to their diets, and we are very excited to bring this great-tasting, plant-based option to our partners at Papa Murphy's," said Anthony Panichelli, foodservice pizza toppings brand manager at Hormel Foods...
Hormel Foods Reports Third Quarter Results
Hormel Foods Corporation reported results for the third quarter of fiscal 2020. All comparisons are to the third quarter of fiscal 2019 unless otherwise noted.
The impact of the Sadler's Smokehouse acquisition (March 2020) is excluded in the presentation of the third quarter of fiscal 2020 non-GAAP measures of organic volume and organic net sales. Operating free cash flow is also presented as a non-GAAP metric.
Executive Summary - Third Quarter
Hormel Ingredient Solutions Launches New Plant-Based Alternatives
With consumers clamoring for more plant-based products, Hormel Ingredient Solutions announced the launch of a new line of plant-based ingredient solutions available to food manufacturers across the country.
“These new products are designed to help food manufacturers incorporate more plant-based foods into their offerings for the growing number of consumers interested in adding these items to their diets,” said Paul Sheehan, director of sales for Hormel Ingredient Solutions.
Powered by pea protein, the new plant-based offerings include...
Lloyd's Barbeque Introduces Pulled Pork and Chicken Products
The makers of Lloyd’s barbeque products announced its pecanwood smoked pulled pork and hardwood smoked chicken made with 2-time world barbeque sauce champion Pig Beach Mustard BBQ Sauce.
Winner of the 2014 and 2016 Memphis in May World Championship Barbecue Cooking Contest, Pig Beach Mustard BBQ Sauce is a perfect match for Lloyd’s lightly seasoned hardwood smoked pulled meats. Recognized by USA Today as the “Most Prestigious Barbecue Contest,” the Memphis in May World Championship Barbecue Cooking Contest is a four-day competition held in Memphis, Tenn., that draws nearly 250 teams competing from around the world.
“Barbeque is all about bringing families and friends together,” said Eric Jacobson, Lloyd’s barbeque brand manager. “Our new hardwood smoked pulled meats made with...
Hormel Foods Announces Retirement
Hormel Foods Corporation announced the upcoming retirement of Jim Splinter, group vice president, corporate strategy. Splinter's long tenure with the company includes leading the company's successful Grocery Products division and holding executive positions with the Refrigerated Foods and Jennie-O Turkey Store divisions.
Most recently, Splinter led corporate strategy for Hormel Foods, including corporate innovation, digital experience, communications and corporate development, including leading the M&A pipeline, which resulted in several important acquisitions over the last few years.
Under his leadership, Hormel Foods formed its digital and e-commerce center of excellence and its agile and incubator centers, resulting in the successful introduction of...
Hormel Foods Announces Retirement and Advancements
Hormel Foods Corporation, a global branded food company, today announced the upcoming retirement of Larry Vorpahl, group vice president and president of Hormel Foods International Corporation. As a result, Swen Neufeldt, currently vice president of Meat Products marketing for the company’s Refrigerated Foods division, has been named group vice president and president of Hormel Foods International Corporation. Lisa Selk, currently director of Hormel Health Labs and the company’s CFI business, will assume the post of vice president of Meat Products marketing for Refrigerated Foods. Vorpahl’s retirement and the related moves will be effective this summer.
Hormel Foods Chairman of the Board, President and Chief Executive Officer Jim Snee commended Vorpahl on what he called...
Hormel Foods Reports Second Quarter Results
Hormel Foods Corporation today reported results for the second quarter of fiscal 2020. All comparisons are to the second quarter of fiscal 2019 unless otherwise noted.
The impact of the Sadler’s Smokehouse acquisition (March 2020) and the CytoSport divestiture (April 2019) are excluded in the presentation of the non-GAAP measures of organic volume and organic net sales. The impact of the one-time gain associated with the CytoSport divestiture last year is excluded from prior year adjusted pretax earnings and adjusted diluted earnings per share. Operating free cash flow is also presented as a non-GAAP metric.
Hormel Natural Choice Lunch Meat Announces New Hardwood Smoked Product Line
The makers of Hormel Natural Choice premium lunch meat have launched a new line of slow-smoked products called Natural Choice hardwood smoked lunch meats. These expertly crafted products – smoked in netting over real wood chips for over four hours – include exciting flavors like applewood ham, applewood turkey with garlic and herbs, pecanwood ham with sweet black pepper and pecanwood ham with brown sugar.
"We leaned into the real smoke and premium ingredients with this line and are offering consumers that great hardwood smoked flavor, without having to fire up the smoker," said Samantha Hovland, Natural Choice brand manager. "Lunchtime is a busy time for people, so we're helping...
Applegate Farms Unveils Well Carved Product Line
Applegate introduced a new line of organic blended burgers and meatballs designed to satisfy consumers who are mindful of their meat intake. The new, chef-crafted Well Carved product line combines meat with whole vegetables, legumes and grains, and continues the brand’s mission – Changing The Meat We Eat.
“The Well Carved product line is a bold, direct challenge to the newly established wisdom that the only way to eat meat responsibly is to settle for a highly processed soy or pea-based burger—or to not eat meat at all,” said John Ghingo, president of Applegate. “Well Carved products offer a way for consumers to enjoy the real, clean meat they crave along with the vegetables that promote health and a healthier planet.”
To that end, all Well Carved products are made exclusively with organic meat and vegetables, and none of the...
Jennie-O Turkey Store to Reopen Willmar Facility
Jennie-O Turkey Store, Inc., announced that it has reopened its Benson Avenue facility, in Willmar, Minn., following a voluntary pause due to impact of COVID-19 in the area. The company restarted operations yesterday with a core group of team members and plans to ramp up production over the next few days.
Steve Lykken, president of Jennie-O Turkey Store said, “We remain committed to our industry-leading efforts to maintain and enhance safety protections for our team members and this community. We are glad to be reopening this facility and are working on our plans for reopening our other facilities including another location in Willmar and in Melrose, both in Minnesota. We have put the safety of our staff first throughout this pandemic and...
Research and Markets: Global Meat Snacks Market, Forecast to 2025
The global meat snacks market is expected to register a CAGR of 9% during the forecast period, 2019 to 2024.
The market is driven by the increased demand for snacks that are rich in nutrients, such as omega-3s, iron, and vitamin B12. The portable snacks make it a convenient option for consumers requiring healthy meat snacks for on-the-go. The rapid growth of the e-commerce sector will also aid the growth of the market by offering a wide array of meat snacks for online purchase.
Increasing Popularity of Sausages, Globally
Consumers are increasingly purchasing three major varieties of meat snacks, such as jerky, sticks, and sausages. While jerky is popular in North America and Europe, sausages are...
Rochelle Foods to Reopen Monday with Industry-Leading Health and Safety Measures
Rochelle Foods, LLC announced that it will reopen as scheduled Monday, May 4, following a 14-day voluntary closure.
The facility, which makes grocery, foodservice and specially-formulated cancer nutrition products, completed testing of its team members last week with the vast majority of them testing negative. Of those who tested positive, numerous people had no noticeable symptoms. During the pause in operations, additional enhanced safety procedures were implemented including deep cleaning of high-touch areas, reconfiguration of common areas and workstations, revised shift scheduling, new guidelines on carpooling and...
Hormel Launches Pepperoni Cup N' Crisp
The makers of Hormel Pepperoni announced the launch of Hormel Pepperoni Cup N' Crisp, a premium pizza topping uniquely crafted to cup and crisp, bringing high-quality restaurant flavor to kitchen tables everywhere.
Unlike traditional lay flat pepperoni, Hormel Pepperoni Cup N' Crisp curls into a bowl shape as it cooks to crispy perfection. Also known as "roni cups" or "cup and char" pepperoni, Hormel Pepperoni Cup N' Crisp provides an experience that no other retail pepperoni can provide.
"Few things satisfy your senses and capture your attention more than a pepperoni pizza fresh out of the oven," said Shane Ward, Hormel Pepperoni brand manager. "Hormel Pepperoni Cup N' Crisp is intensely flavored and...
Hormel Foods Reports First Quarter Results
Hormel Foods Corporation reported results for the first quarter of fiscal 2020. All comparisons are to the first quarter of fiscal 2019 unless otherwise noted. The impact of the CytoSport divestiture is excluded in the presentation of the non-GAAP measures below.
Hormel Foods Announces Acquisition of Sadler's Smokehouse Business
Hormel Foods Corporation announced it has reached an agreement to acquire Texas-based Sadler's Smokehouse. Sadler's Smokehouse is a family-owned business that specializes in premium and authentic pit-smoked meats for retail and foodservice customers. Hormel Foods has been a customer of Sadler's Smokehouse for over two decades.
"Sadler's Smokehouse is a great company with an impressive history, talented team and an outstanding portfolio of on-trend products that resonate with consumers, customers and operators," said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. "This is a very strategic acquisition for...
Burke Corporation Launches New Plant-Based Alternatives
Burke Corp., a subsidiary of Hormel Foods Corporation, announced the launch of new Burke Alternatives plant-based products available to foodservice operators across the country.
“We know that a growing number of consumers are interested in incorporating more plant-based foods into their diets,” said Amy Thielking, marketing manager at Burke. “These new products are the perfect way to not only add more plant options to meals, but also still enjoy a great-tasting meal with plant-based ingredients.”
Powered by pea protein, Burke Alternatives include a fully cooked crumble and uncooked ground products with...
Universities Across the Country to Offer Applegate Products to Students
As thousands of college students head back to campus, some may be happy to return to the dining halls. Long gone are the days of mystery meat and overcooked vegetables on steam tables. In just the last two years, Applegate, the nation’s leading natural and organic meat brand, has appeared in the dining halls (they’re not called cafeterias any more) of more than 25 colleges and universities – from the Ivy League to the Big Ten – as students demand more sustainably-sourced foods.
Applegate brings familiar offerings – deli meat, fresh pork and hot dogs – with the added benefit of clean, non-GMO ingredients, no antibiotics ever and third-party animal welfare certification. And earlier this year, Applegate launched The Great Organic Blend Burger products to offer an option for burger lovers who don’t want to eliminate meat from their diet, but rather reduce their meat consumption for reasons varying from...
Top Meat, Poultry, Egg and Seafood Price Action Broken Down in the Latest Market Briefing
Current Restaurant Restrictions and Capacity By State
Billions in Consumer Spending Are Shifting as COVID-19 Forces Widespread Retail Disruption
The NPD Group Reveals Consumers' Top Plant-Based Product Choices
Americans Flock to Chicken, the Nation’s #1 Quarantine Protein
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