Hormel closes $850M deal for deli meat maker; Thanksgiving donation feeds storm survivors

Hormel Foods Corporation announced on Monday the completion of the $850 million acquisition of a California-based deli meat and salami company.

The Columbus Manufacturing, Inc. brand joins an existing deli offerings  lineup that includes Hormel, Jennie-O, Applegate, and Di Lusso.

Hormel closed on the deal with Chicago-based Arbor Investments. Columbus Manufacturing’s total annual sales are about $300 million with an expected growth rate in excessof 5 percent, according to a Hormel news release.

“The acquisition of Columbus is the catalyst for uniting all our deli businesses into one group,” said Jim Snee, Hormel’s chairman of the board, president and chief executive officer. “We received regulatory approval faster than anticipated and are excited to start building a stronger, more united deli organization.”

Subsequent to the closing of the acquisition, Hormel Foods is increasing its fiscal 2018 net sales guidance to between $9.7 billion and $10.1 billion and increasing its earnings per share guidance to between $1.62 to $1.72 per share.

Hormel Foods Corp. stock ended the trading day down 0.23 at $34.18.

700 turkeys, 700 hams

Also on Monday, Convoy for Hope, a charitable organization responding to the needs of Hurricane Harvey survivors in Texas, issued a thank you to Hormel for helping feed more than 1,000 people Thanksgiving meals.

Hormel and its subsidiary, Jennie-O Turkey Store, donated 700 turkeys and 700 Hormel Cure 81 hams to Convoy of Hope for Thanksgiving meals in communities affected by Hurricane Harvey and others in need. The main event in Baytown, Texas,  served about 1,000 people and featured a performance by Mandisa, an American gospel and contemporary Christian recording artist and former American Idol contestant.

“When we heard about this Thanksgiving event to help those affected by Hurricane Harvey and others in need we knew we wanted to help,” said Brent Koosmann, director of marketing at Jennie-O Turkey Store. “We were honored to provide the turkeys for this event to help others.”

“Thank you to Hormel Foods and Jennie-O Turkey Store for your tremendous support,” said Hal Donaldson, president of Convoy of Hope. “We are so grateful to be able to serve storm survivors alongside our great partners and give them hope during the holiday season.”

Hormel Foods provided several truckloads of products and a monetary donation to help Convoy of Hope with disaster relief efforts this year.

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