Hormel Foods gobbled up one of it rivals after agreeing to buy The Turkey Store, the sixth largest turkey operation in the US, for $334.4m in cash. Hormel will combine it with its own Jennie-O Foods unit confirming its position as the world’s largest turkey processor.
Hormel, best known in the US for its Spam chopped pork luncheon meat and Dinty Moore Stew, has followed an aggressive strategy to widen its product line. Hormel expects to process more than 1.2bn pounds of turkey annually following the acquisition.