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Hormel closes on Applegate

Hormel has closed the acquisition of Applegate Farms, owner of the Applegate brand, paying $775 million for the company. Applegate is said to be the No. 1 brand in the natural and organic value-added prepared meats category. As a growing number of consumers choose natural and organic products, Hormel said that this purchase provides it and the Applegate brand […]

Hormel has closed the acquisition of Applegate Farms, owner of the Applegate brand, paying $775 million for the company.

Applegate is said to be the No. 1 brand in the natural and organic value-added prepared meats category. As a growing number of consumers choose natural and organic products, Hormel said that this purchase provides it and the Applegate brand a faster path to expanded offerings in this high-growth category. Applegate will operate autonomously as a stand-alone subsidiary in the company’s Refrigerated Foods segment.

2015 annual sales for Applegate are expected to be about $340 million.