Hormel Foods Corp - Company Profile
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Business Description
Hormel Foods Corp (Hormel Foods) manufactures, processes, and distributes a wide range of food products. Hormel Foods develops, processes, and distributes a wide array of food products, including meat, nuts, and other food items. The company markets its products under the brands name of Hormel, Always Tender, Applegate, Austin Blues, Bacon 1, Black Label, Bread Ready, Burke, Café H, Ceratti, Chi-Chi’s, Columbus, Compleats, Corn Nuts, Cure 81, Dan’s Prize, Di Lusso, Dinty Moore, Don Miguel, Doña Maria, Embasa, Fast ‘N Easy, Fire Braised and Fontanini.
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R&D Overview
Hormel Foods R&D arm focuses on growing existing brands and expand into new branded items. Hormel leverages its partnerships and industry connections to create leading brands and technologies. Hormel Foods applies innovation across all business areas to create accessible food, improve safety and reduce environmental impacts. As of October 2024, the Company has 22 U.S. and eight foreign patents. In FY2024, the company incurred expenses of US$36.1 million on R&D, which as a percentage of revenue, stood at 0.3%.
Business Segments
Overview
Processes, markets and sells food products for foodservice, convenience store, and commercial customers located in the US.
Performance
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Overview
Produces, markets, and sells company’s products internationally. Also includes results from the company’s international joint ventures and royalty arrangements and equity method investments.
Performance
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Overview
Involved in the processing, marketing and sale of food products sold primarily in the retail market in the US. Also includes the results from its joint venture, MegaMex Foods LLC.
Performance
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Geographical Segments
Performance
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Performance
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