|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||33.83 - 34.25|
|52 Week Range||32.26 - 40.00|
|PE Ratio (TTM)||20.79|
|Dividend & Yield||0.68 (1.98%)|
|1y Target Est||N/A|
Hormel Foods (HRL) reinforces high-margin generating foodservice business on the back of the acquisition of Fontanini brand from Capitol Wholesale Meats, Inc.
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Hormel Foods Corp. announced today that is has acquired the Chicago-based sausage brand Fontanini Italian Meats and Sausages from Capitol Wholesale Meats, Inc for $425 million. Austin, Minn.-based Hormel said that Fontanini will continue to operate out of its Chicago facility and report to Hormel's refrigerated foods division. Hormel CEO Jim Snee and other executives will discuss the acquisition during the company's third-quarter earnings call on Aug. 24.