HORMEL FOODS CORP

Hormel Foods Corporation, founded in 1891 in Austin, Minnesota, as Geo. A. Hormel & Company, processes meat and food products. The company has expanded its product portfolio through organic growth and acquisitions to become a global branded food company with more than $12 billion in annual revenue. Its brands include Planters®, SPAM®, Jennie-O®, Skippy®, Applegate®, Wholly®, Hormel® Black Label®, Fontanini®, Bacon1®, Hormel® pepperoni, and over 30 other brands. Hormel Foods Corporation operates with three reportable segments: Retail, Foodservice, and International. The Retail segment primarily processes, markets, and sells food products predominantly in U.S. retail channels, such as grocery stores, mass merchandisers, club stores, natural food chains, drug, dollar and discount chains, and e-commerce providers. This segment also includes results from the MegaMex Foods, LLC joint venture. The Foodservice segment primarily processes, markets, and sells food products to distributors and operators across various U.S. food-away-from-home providers, including restaurants, hospitality, healthcare, K-12, colleges and universities, and convenience stores. The International segment processes, markets, and sells the company's products through retail and foodservice channels internationally. This segment also includes results from international joint ventures, equity method investments, royalty arrangements, and operations in China and Brazil.