USA: Hormel Foods completes acquisition of Diamond Crystal Brands Nutritional Products business
Hormel Foods Corporation (NYSE: HRL) today announced completion of its purchase of the assets of Diamond Crystal Brands nutritional products (DCBNP), headquartered in Savannah, Ga. The transaction is valued at approximately $65 million in cash. Hormel Foods announced on Feb. 21, 2001, the definitive agreement to acquire the assets of DCBNP, a division of Imperial Sugar Company. Hormel Foods will merge the assets of DCBNP into its Hormel HealthLabs subsidiary, which acquired the business and production facility of Cliffdale Farms in December 2000, making it one of the industry leaders in nutritionally enhanced food products.
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