The Minnesota food giant wants to spend up to $2 billion for a “bolt-on” addition as it announces quarterly profits dropped 14%.
More from MN Fortune 500
Business
General Mills to sell its North American yogurt business, including Yoplait, for $2.1 billion
The Minnesota-based food maker has been shopping the brand for a while amid slowing demand and high competition in the yogurt aisle.
September 12, 2024
MN Fortune 500
CHS returning $600 million to cooperative owners
The cash payments and equity redemption will be the third-highest patronage payouts on record for the Minnesota-based co-op.
September 11, 2024
Business
Target slows store theft, but at a cost to shopping experience
Asset protection experts say more innovation instead of familiar locked-up products is what will help retailers keep shrink like shoplifting at bay without also deterring customers.
September 5, 2024
MN Fortune 500
Planters nuts recall dims Hormel’s outlook
Planters disruption, low turkey prices and pockets of weak demand are dragging the Minnesota company’s sales.
September 4, 2024
Business
Fraught plastic film recycling plant in Rogers reopening with new ownership
GDB International is taking the helm after MyPlas built the $30 million plant that quickly went under despite backing from companies like General Mills and Schwan’s.
September 4, 2024
Health Care
UnitedHealth data breach dings earnings for Mendota Heights-based Patterson
Patterson’s first-quarter sales and earnings missed expectations as it adjusted to the cybersecurity effects on its dental clinic customers.
August 28, 2024
Business![Hormel headquarters in Austin, MN. ] GLEN STUBBE * gstubbe@startribune.com Friday September 11, 2015 Despite woes throughout the food industry, partly due to consumers turning away some from processed foods, Hormel has managed to continue prospering -- even though a good part of its business -- Spam, chili -- is about as processed as you can get. But the company's turkey and pork offerings are riding a hot protein trend. And over the past two years, it's made some of the biggest acquisitions in](https://arc.stimg.co/startribunemedia/527MWWMEXAN6BDVVGMMGBOERGU.jpg?&w=252&ar=3:2&fit=crop)
Hormel, affiliated meatpackers settle wage-fixing lawsuits for $13.5 million
Hormel subsidiary Jennie-O Turkey Store also settled similar claims.
August 26, 2024
Health Care
Medtronic growth restrained as some business plans remain in limbo
Approvals are still needed for the Hugo robotic surgery system and Affera technology.
August 20, 2024
Business
Hormel’s head of retail retiring amid company transformation
Former Applegate president John Ghingo will replace Deanna Brady this fall.
August 20, 2024
Retail
Target won’t meet its cage-free egg goal in 2025
Retailers, including Target, blame bird flu and affordability concerns for the delays in reaching their benchmarks for cage-free eggs, while animal welfare groups say they dropped the ball.
August 15, 2024
Business
Ameriprise, Piper Sandler agree to pay SEC millions in recordkeeping settlement
Regulators found the Minneapolis financial services firms violated recordkeeping provisions of federal securities laws.
August 15, 2024
Business
Pay for General Mills CEO drops to $13 million
Chairman and CEO Jeff Harmening earned a smaller bonus and gained less from long-term equity awards as pay declined 25% from a year ago.
August 13, 2024