Hormel Foods

Hormel Foods is a global branded food company with a portfolio spanning shelf-stable, refrigerated, and fresh food categories. Founded in the late 19th century, the company has grown from a regional meatpacking operation into a diversified multinational corporation. Its iconic brands, including SPAM and Skippy, are recognized in markets around the world. Headquartered in its original home of Austin, Minnesota, Hormel is a component of the S&P 500 and is publicly traded on the New York Stock Exchange.

History

The company was founded in 1891 by George A. Hormel as George A. Hormel & Company in Austin, Minnesota. Under the leadership of his son, Jay Catherwood Hormel, the company pioneered significant innovations, most notably the introduction of the canned cooked meat product SPAM in 1937, which became a crucial food source for Allied forces during World War II. A major corporate restructuring occurred in 1993 when the original Hormel & Company merged with Geo. A. Hormel & Co. to form Hormel Foods Corporation. The 21st century has been marked by strategic acquisitions to diversify its portfolio, including the purchases of the Skippy peanut butter brand from Unilever in 2013, Applegate Farms in 2015, and the Planters snack nut business from Kraft Heinz in 2021.

Products

Hormel's product portfolio is organized into several key segments. Its Grocery Products unit includes globally recognized shelf-stable items like SPAM, Dinty Moore stew, Hormel Chili, and Skippy peanut butter. The Refrigerated Foods segment encompasses a wide array of charcuterie, bacon, sausage, and party trays, sold under brands such as Hormel Natural Choice, Cure 81, and Columbus Craft Meats. The company's Jennie-O Turkey Store subsidiary is a leading marketer of turkey products in the United States. Following major acquisitions, its portfolio now also includes the Planters nuts brand and Applegate Farms natural and organic meats.

Operations

Hormel operates numerous manufacturing and processing facilities across the United States, with major plants in locations like Austin, Minnesota, Fremont, Nebraska, and Dubuque, Iowa. The company maintains a significant international presence, with production and joint ventures in countries including China, Brazil, and the Philippines. Its products are distributed through a vast network to major supermarket chains, mass merchandisers, and foodservice distributors. Key operational subsidiaries include Jennie-O Turkey Store, based in Willmar, Minnesota, and Hormel Foods International, which manages its global sales and marketing efforts.

Corporate affairs

Hormel Foods is led by Chairman, President, and Chief Executive Officer James P. Snee, and its corporate headquarters remain in Austin, Minnesota. The company is known for its employee profit-sharing program, established by Jay Catherwood Hormel, and for the Hormel Institute, a biomedical research center affiliated with the University of Minnesota. It is a consistent member of the Fortune 500 list and has been recognized for its corporate responsibility initiatives. Major institutional shareholders include The Vanguard Group, BlackRock, and State Street Corporation.

Controversies

The company has faced significant labor disputes, most notably a bitter strike in 1985-86 at its Austin plant involving the United Food and Commercial Workers union, which resulted in the hiring of permanent replacement workers. Hormel has also been the target of campaigns by animal rights organizations such as People for the Ethical Treatment of Animals (PETA) concerning animal welfare practices in its supply chain. Environmental groups have occasionally cited the company's processing plants for issues related to wastewater discharge and environmental permits. Furthermore, the nutritional content of some of its processed meat products has been criticized by public health advocates, including the American Heart Association.

Category:Food and drink companies of the United States Category:Companies based in Minnesota Category:Manufacturing companies based in Minnesota