Hormel Foods

Hormel Foods Corporation stands as one of America's most enduring food manufacturers, with a legacy spanning over 130 years of innovation, quality, and market leadership. Headquartered in Austin, Minnesota, this Fortune 500 and S&P 500 company has evolved from a single meatpacking plant into a global food powerhouse generating $11.9 billion in annual revenue. The company operates across diverse product categories including fresh and processed meats, refrigerated and frozen foods, nut butters, snacks, and nutritional products, distributing through retail, foodservice, and international channels.

The company's portfolio includes some of the most recognizable brands in American households: SPAM luncheon meat, Hormel premium meats, Jennie-O turkey products, Applegate natural and organic meats, Skippy peanut butter, Planters nuts, Columbus craft meats, Black Label bacon, and Dinty Moore stews. This brand diversification strategy has enabled Hormel to maintain market leadership across multiple categories while adapting to evolving consumer preferences for convenience, health, and sustainability. The company operates manufacturing facilities across the United States and maintains a global presence in Australia, Brazil, Canada, China, England, Indonesia, Japan, Mexico, the Philippines, Singapore, and South Korea.

Under the leadership of interim CEO Jeffrey M. Ettinger and President John Ghingo, Hormel Foods is executing a comprehensive transformation initiative focused on operational excellence, supply chain modernization, and strategic portfolio optimization. The company achieved record cash flow from operations of $1.3 billion in fiscal 2024 and announced its 59th consecutive year of annual dividend growth, underscoring its financial stability and commitment to shareholder returns. With 20,000 employees worldwide, Hormel maintains its founding values of integrity, quality innovation, respect, and community commitment while positioning itself for long-term growth in an increasingly competitive and dynamic food industry.

Hormel's recent strategic moves include significant acquisitions like the $2.79 billion purchase of Planters from Kraft Heinz in 2021, as well as focused divestitures such as the spin-off of Justin's nut butter business in 2025. The company is investing heavily in its Transform and Modernize initiative, executing approximately 90 projects to realize $100-150 million in incremental benefits. Despite facing challenges including avian influenza impacts on its Jennie-O turkey operations and a fire at its Little Rock peanut butter facility, Hormel continues to demonstrate resilience through operational agility, strong brand equity, and a culture of continuous improvement that has sustained the company through more than a century of market evolution.