Hormel Combines Grocery Products, Specialty Foods UnitsHormel Combines Grocery Products, Specialty Foods Units

Austin, MN-based Hormel Foods Corporation recently merged its Specialty Foods segment into its Grocery Products segment to increase revenue and cost synergies, a Nov. 21 company press release announced.

“I am confident the consolidation of these two segments will deliver revenue and cost synergies in all aspects of the business while continuing to deliver industry-leading growth,” Jim Snee, chairman of Hormel’s board and the president and chief executive officer of Hormel Foods, said in a statement.

The combined unit will manage the firm’s long-lasting brands like SPAM and SKIPPY peanut butter, while fostering growth of up-and-coming brands like Wholly Guacamole and Muscle Milk, Snee stated.

Luis Marconi, group vice president of Grocery Products, will remain in his post.

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