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Dan's Prize Announces Furlough of 197 Team Members

Company Expects To Bring Team Members Back as Business Recovers

LONG PRAIRIE, Minn., April 27, 2020 /PRNewswire/ -- Dan's Prize, LLC announced today that it will be temporarily furloughing 197 of its approximately 530 team members on May 4, 2020. Dan's Prize is well-known for its wide variety of meat products sold throughout the restaurant and foodservice industry, and has seen a dramatic decline in foodservice business as a result of the global COVID-19 outbreak. Dan's Prize is part of the Hormel Foods Corporation's (NYSE:HRL) family of companies.

"We have an incredible team of food production professionals who are highly skilled at producing great products for restaurants, hotels and other foodservice operations. Unfortunately, the global COVID-19 pandemic has significantly disrupted the foodservice and hospitality industries," said Jeff Tobak, president of Dan's Prize. "Our dedicated employees have been working hard over the last several weeks and we thank them for all they are doing as essential workers and we fully expect to bring them back as our business returns."

All team members who are temporary furloughed will continue to receive company health and welfare benefits during the duration of the furlough. The company has communicated with its team members and will be working together in the coming weeks to ensure team members are supported, and that the duration of the furlough is as limited as possible.

Dan's Prize has two facilities in Long Prairie and Browerville, Minn., and is a well-known provider of food products to restaurants and foodservice establishments.  

FORWARD-LOOKING STATEMENTS

This release contains forward-looking information based on management's current views and assumptions. Actual events may differ materially. Please refer to the cautionary statements regarding "Risk Factors" and "Forward-Looking Statements" that appear on pages 30-35 in the company's Form 10-Q for the fiscal quarter ended Jan. 26, 2020, which can be accessed at hormelfoods.com in the "Investors" section.

Contact:

Media Relations
Media@hormel.com

 

Cision

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SOURCE Dan's Prize