Hormel Foods (HRL) to Sell Clougherty Packing and Other Assets for $145M
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Hormel Foods Corporation Announces the Sale of Farmer John, Saag's Specialty Meats, and Three Farm Operations
November 21, 2016 4:15 PM ESTAUSTIN, Minn.--(BUSINESS WIRE)-- Hormel Foods Corporation (NYSE: HRL) today announced it has entered into a definitive agreement to sell Clougherty Packing, LLC, parent company of Farmer John and Saags Specialty Meats, along with PFFJ, LLC farm operations in California, Arizona, and Wyoming to Smithfield Foods, Inc. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals, and is expected to close within 30 days.
We appreciate the Farmer John, Saags and PFFJ employees dedication and commitment to their customers and consumers. While the businesses have... More
