AUSTIN, Minn. — Hormel Foods Corp. has entered into a definitive agreement to acquire Applegate Farms LLC, owner of the Applegate® brand, the No. 1 brand in the natural and organic value-added prepared meats category.
The purchase price is approximately $775 million.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the United States, and is expected to close within 60 days.
“A growing number of consumers are choosing natural and organic products. This deal allows us to expand the breadth of our protein offerings to provide consumers more choice,” said Jeffrey M. Ettinger. . .
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