Hormel linked to possible sale of Bumble Bee Foods

Published 10:19 am Wednesday, October 15, 2014

Hormel Foods Corp. acquired Muscle Milk earlier this year and Skippy peanut butter in 2013, but it may not be finished.

According to multiple online reports, Hormel may be one of the companies interested in acquiring Bumble Bee Foods LLC, a San Diego-based company that produces canned tuna, salmon and other seafoods.

Bloomberg and the Minneapolis/St. Paul Business Journal both reported Hormel has expressed interest and could bid on Bumble Bee, which analysts say could sell for more than $1.5 billion.

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Hormel acquired Muscle Milk for $450 million and Skippy Peanut Butter for $700 million.

The company acquired Wholly Guacamole dip in 2011, Country Crock and Don Miguel in 2010 and MegaMex Foods in 2009.

Hormel was also rumored to be interested in buying the Ragu brand, but it sold to Japan’s Mizkan Group earlier this year.