47.72 Up +0.01 +0.02%
COMPANY ADDRESS
HORMEL FOODS CORPORATION
1 Hormel Place
Austin, MN 55912-3680
USA - Map
Phone: +1 507 437-5611
Website
COMPANY INFORMATION
Exchange: New York Stock Exchange
Stock: Hormel Foods Corp
Industry: Packaged Foods
Employees: 20,100
DESCRIPTION
Hormel Foods Corp a Delaware corporation was founded by George A. Hormel in 1891 in Austin, Minnesota, as George A. Hormel & Company. The Company name was changed to Hormel Foods Corporation on January 31, 1995. The Company is engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally. The Company’s business segments include Grocery Products, Refrigerated Foods, Jennie-O Turkey Store (JOTS), Specialty Foods. The Company’s products primarily consist of meat and other food products. The meat products are sold fresh, frozen, cured, smoked, cooked, and canned. Each segment make up approximately the following percentage of segment sales: 45 percent of Grocery Products, 36 percent of Refrigerated Foods, 37 percent of JOTS, 44 percent of Specialty Foods. The meat products are sold fresh, frozen, cured, smoked, cooked, and canned. The Company markets its products in various locations throughout the world. Some of the larger markets include Australia, Canada, China, England, Japan, Mexico, Micronesia, the Philippines, and South Korea. The Company competes with manufacturers of pork and turkey products, as well as national and regional producers of other meat and protein sources, such as beef, chicken, and fish. The Company’s domestic competitors for its Refrigerated Foods segment in 2012 were Tyson Foods and Smithfield Foods; for its Grocery Products segment, ConAgra Foods, General Mills, and Campbell Soup Co.; and for JOTS, Cargill, Inc. and Butterball, LLC. There are numerous patents and trademarks that are important to the Company’s business. The Company holds 44 U.S.-issued and six foreign patents. Most of the trademarks are registered.
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