Austin, Minn - Hormel Foods Corp siad it is selling its gelatin and specialty proteins plant at Davenport, Iowa, to Goodman Fielder Ltd for $71.4 million.
"Strategically the bulk gelatin and specialty protein business doesn't fit our future growth plans which are to concentrate on the company's new and established consumer-branded meat and food products," Hormel president and chief executive officer Joel Johnson said in a statement.
Hormel said it expects to finalize the agreement in January. The 147,000 square foot plant opened in 1979.
Press for Information on Placing Your Ad Here
Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
Web Site: http://www.spcnetwork.com/mii