Hormel Foods Highlights Strategy for Targeted Growth at Barclays
Back-to-School Consumer Conference
AUSTIN, Minn. -- September 5, 2013
During theannual Barclays Back-to-School Consumer Conference in Boston,
Mass., Jeffery M. Ettinger, chairman of the board, president and chief
executive officer at Hormel Foods Corporation (NYSE: HRL), offered insights on
the company’s strategy for targeting category growth with new products and
driving sales in international markets.
“Our continued focus on innovation has brought many creative and convenient
value-added food products to consumers,” Ettinger said. “We have achieved more
than $2 billion in total sales from new products created since 2000 and have
challenged our team to achieve $3 billion by 2016.”
Ettinger noted that seven of the company’s new products were recognized as
“2013 Editors' Picks” by Progressive Grocer magazine, including the new
Hormel^® REV^® snack wraps.
“The launch of our Hormel^® REV^® snack wraps is the latest example of our
innovative spirit, and offers a unique, high protein option to the
fast-growing snacking category. We are very excited about the potential of
this product,” Ettinger said.
Ettinger explained that in addition to innovation, the company will be
focusing on driving sales outside of the United States. “We expect our
International & Other segment to be a driver of accelerated growth for the
company,” Ettinger said.
In January, Hormel Foods acquired the iconic SKIPPY^® peanut butter products
and has fully integrated the operations, logistics and sales of the brand into
its Grocery Products division domestically, where it has performed well.
Ettinger stated SKIPPY^® will be a key driver of its international growth
plans, especially in China. Closing of that deal is targeted to be completed
by the end of fiscal 2013.
Ettinger concluded by highlighting the company’s strong history of solid
financial performance, noting the company has increased dividends to
shareholders for 47 consecutive years.
About Hormel Foods
Hormel Foods Corporation, based in Austin, Minn., is a multinational
manufacturer and marketer of consumer-branded food and meat products, many of
which are among the best known and trusted in the food industry. The company
leverages its extensive expertise, innovation and high competencies in pork
and turkey processing and marketing to bring branded, value-added products to
the global marketplace. The company is a member of the Standard & Poor's (S&P)
500 Index, S&P Dividend Aristocrats for 2012, Maplecroft Climate Innovation
Indexes, Global 1000 Sustainable Performance Leaders and was again named one
of "The 100 Best Corporate Citizens” by Corporate Responsibility Magazine for
the fourth year in a row. Hormel Foods debuted on the G.I. Jobs magazine list
of America’s Top 100 Military Friendly Employers in 2012. The company enjoys a
strong reputation among consumers, retail grocers, foodservice and industrial
customers for products highly regarded for quality, taste, nutrition,
convenience and value. For more information, visit http://www.hormelfoods.com.
Hormel Foods Corporation
Julie H. Craven, 507-437-5345
Press spacebar to pause and continue. Press esc to stop.