Austin, Minnesota-based meat processor Hormel Foods Corp has signed an agreement to form a joint venture with sector rival Cargill’s Excel Corp. to market and distribute meat products to supermarkets and club stores across the US.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
In a press release yesterday [Thursday], the companies explained that the joint venture, to be called Precept Foods LLC, would see Homel and Excel supply case-ready pork and beef under Hormel’s Always Tender national brand name.
The financial terms of the deal have not yet been released.
