Hormel Foods has revealed it is considering leaving Vietnam, a market where it has a business with Philippines conglomerate San Miguel Corp.

The US group said it could quit the market early in its 2014/15 year, which started on 27 October.

“We are considering a potential exit from operations in Vietnam, early in fiscal 2015, which have been part of a larger joint venture in the region. This business, which includes hog production, feed mills, and a processed meats facility, all located in Vietnam, has not delivered the results we expect from our international investments,” Hormel told just-food.

According to the website of San Miguel’s food arm, San Miguel Pure Foods, Hormel owns a 49% stake in San Miguel Hormel (Vn) Co.

A spokesperson for San Miguel declined to comment on whether the companies were in talks over Hormel’s stake.

Hormel said the Vietnam unit “represents a small portion of our San Miguel partnership”. The two companies also work together in the Philippines.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now