Hormel Foods

Hormel Foods Corporation (NYSE: HRL) is a Fortune 500 global branded food company headquartered in Austin, Minnesota. Founded in 1891, Hormel has grown from its origins as a meat packing plant to become a multinational manufacturer and marketer of consumer-branded food products.

Hormel operates through three segments: Retail, Foodservice and International. The company's portfolio includes over 30 iconic brands such as SPAM, Skippy, Planters, Jennie-O, Applegate, and Hormel Natural Choice. Many of these brands hold the #1 or #2 market share position in their respective categories. Hormel's products span across categories including meat products, nut butters, deli meats, Mexican foods, and other refrigerated and shelf-stable foods.

In fiscal year 2023, Hormel reported net sales of USD 12.1 billion. The company's Retail segment accounted for approximately 64% of sales, Foodservice for 30%, and International for 6%. Hormel has a global presence, selling products in over 80 countries worldwide. The company has made strategic investments to expand internationally, including in markets like China, Brazil, and Indonesia.

Hormel continues to focus on innovation and meeting changing consumer preferences. Recent initiatives include expanding its portfolio of plant-based and better-for-you products, growing its presence in the snacking and entertaining space, and investing in capacity expansions for key product lines. The company is also undertaking a multi-year transformation and modernization initiative aimed at improving efficiencies and driving growth.

Hormel maintains a strong commitment to corporate responsibility and sustainability. The company has set environmental goals including reducing greenhouse gas emissions and recently had its targets validated by the Science Based Targets initiative. Hormel also prioritizes giving back to communities and was named one of "America's Most Responsible Companies" by Newsweek.