A Brief History of Hormel Foods Corporation (HRL)

Hormel Foods Corporation was founded by George A. Hormel in 1891 in Austin, Minnesota. Initially, the company was known as George A. Hormel & Company and focused on processing and selling fresh pork products. Over the years, the company expanded its product line and established a reputation for quality and innovation in the meatpacking industry.

In the early 20th century, Hormel introduced several practices that revolutionized meat processing, including the use of refrigeration and improved packaging methods. These innovations helped the company grow rapidly and expand its distribution network.

Some key milestones in the history of Hormel Foods Corporation include:

• 1926: The introduction of Hormel’s canned ham, which quickly became a popular product due to its convenience and long shelf life.
• 1937: The launch of SPAM®, a canned meat product that became a staple during World War II due to its versatility and durability.
• 1942: Hormel's vast contribution to the war effort, with its products, especially SPAM®, being widely used by the U.S. military.
• 1963: The company goes public and its shares are listed on the New York Stock Exchange under the ticker symbol HRL.
• 1980s: Expansion into the international market and diversification into non-meat product categories.
• 1990s: Acquisition of various brands, including Jennie-O Foods, which expanded Hormel's poultry offerings.
• 2000s: Introduction of innovative products like Hormel® Natural Choice® meats and the acquisition of the Skippy peanut butter brand in 2013.
• 2015: Acquired Applegate Farms, a leader in natural and organic prepared meats.
• 2021: Purchased Planters from Kraft Heinz, adding a leading snack nut brand to its portfolio.

Throughout its history, Hormel Foods Corporation has remained committed to innovation, quality, and sustainability, continually evolving to meet the changing needs and preferences of consumers around the world.

Who Owns Hormel Foods Corporation (HRL)

Hormel Foods Corporation (HRL) is a publicly traded company listed on the New York Stock Exchange (NYSE). Therefore, its ownership is distributed among numerous shareholders, including institutional investors, mutual funds, and individual investors. Here are some key details regarding the ownership of Hormel Foods Corporation:

• Institutional Investors: A significant portion of Hormel Foods Corporation is owned by institutional investors. These include large financial organizations such as Vanguard Group, BlackRock, and State Street Corporation. Institutional investors typically hold sizable stakes due to the amount of capital they manage, and they often have substantial influence over corporate governance.
• Mutual Funds: Various mutual funds also hold shares in Hormel Foods Corporation. These funds manage investments on behalf of a large number of individuals and diversify their holdings among multiple companies, including HRL. Examples of mutual funds with stakes in HRL include Vanguard Total Stock Market Index Fund and iShares Core S&P 500 ETF.
• Individual Shareholders: Thousands of individual investors own shares in Hormel Foods Corporation. These shareholders range from small investors who own a handful of shares to more substantial individual investors with more significant holdings. Individual shareholders have the right to vote on company matters, including electing the board of directors and other significant decisions.
• Company Insiders: Hormel Foods' executives and board members also own shares in the company. Insider ownership typically aligns the interests of the company's leadership with those of the broader shareholder base, as these insiders benefit directly from the company's success and share price appreciation.

Overall, the ownership of Hormel Foods Corporation is diverse, with a mix of institutional investors, mutual funds, individual shareholders, and company insiders all holding stakes in the company.

Hormel Foods Corporation (HRL) Mission Statement

Hormel Foods Corporation (HRL) is a global branded food company with over 130 years of bringing trusted, wholesome, and delicious products to people around the world. The company's mission statement reflects its dedication to high standards and its commitment to quality, innovation, and community.

"Inspired People. Inspired Food.™." This simple yet powerful mission statement encapsulates the essence of Hormel Foods. The company prides itself on its people and the food they create. It is driven by a culture of innovation and responsibility, striving to make a positive impact on the communities in which it operates.

The mission statement highlights several key aspects:

• Inspired People: The company's employees are its greatest asset. Hormel Foods is dedicated to fostering a work environment that promotes personal and professional growth. By empowering its employees, the company ensures that they are motivated and passionate about their work.
• Inspired Food: Quality and creativity are at the heart of Hormel Foods' product offerings. The company is committed to delivering food that not only meets but exceeds customer expectations. Through continuous innovation, Hormel Foods brings exciting, new, and high-quality products to market.
• Responsibility and Community: Hormel Foods recognizes its role in the global community. The company is committed to ethical practices, sustainability, and giving back to the community. This commitment is demonstrated through various initiatives that promote well-being, environmental stewardship, and social responsibility.

Hormel Foods Corporation (HRL) is a leader in the food industry, driven by a mission that emphasizes the importance of its people, the quality of its products, and its responsibility to the world. Through this mission, the company continues to inspire and nourish its customers, employees, and communities.

How Hormel Foods Corporation (HRL) Works

Hormel Foods Corporation (HRL) is a globally recognized leader in the food industry, widely respected for their portfolio of brands and commitment to quality. The company operates through a well-defined structure ensuring efficiency and sustainability at every stage of its operations.

• Grocery Products: This segment focuses on products that are shelf-stable and can be stored for extended periods. It includes branded and non-branded foods such as canned meat, chili, hash, stews, and microwaveable meals.
• Refrigerated Foods: This segment comprises products that require refrigeration, such as fresh meats, bacon, refrigerated meal solutions, sausages, and other prepared foods. Many well-known brands, including Hormel, Jennie-O, and Applegate, fall under this category.
• Jennie-O Turkey Store: Specializing in turkey products, this subsidiary offers a range of fresh, frozen, and prepared turkey products. Jennie-O Turkey Store focuses on high-quality and innovative turkey-based foods.
• International & Other: Hormel's international business segment extends its market reach globally, catering to consumers in over 80 countries. This segment also includes the company's pure play protein business and Hormel’s food service division.

Supply Chain & Sourcing: Hormel Foods Corporation emphasizes a robust and sustainable supply chain. The company partners with trusted farmers and suppliers to ensure high-quality ingredients and ethically sourced raw materials. Hormel is committed to sustainable farming practices, animal welfare, and reducing its environmental footprint.

Research & Development: Innovation is at the heart of Hormel Foods. The company invests heavily in R&D to develop new products, improve existing ones, and maintain a competitive edge in the market. The Product Development and Innovation Center located in Austin, Minnesota, houses state-of-the-art facilities where food scientists and engineers work on creating the next big thing in food.

Quality Assurance: Hormel Foods stands out for its rigorous quality assurance practices. Every product undergoes stringent quality checks to meet the company's high standards. The company's commitment to food safety, from sourcing to packaging, ensures consumer trust and brand loyalty.

Marketing & Sales: Hormel Foods employs advanced marketing strategies to promote its vast array of products. The company's marketing efforts include digital and traditional advertising, social media campaigns, and strategic partnerships. Their sales teams work diligently to expand market reach and increase product availability across various retail and food service channels.

Corporate Social Responsibility (CSR): Hormel Foods is dedicated to making a positive impact on the community and environment. The company runs several CSR initiatives focused on hunger relief, supporting local communities, and promoting sustainability. Programs like "Hormel Foods Good Feeds Us All" exemplify their commitment to social responsibility.

Workforce & Culture: Hormel Foods believes in fostering a positive and inclusive workplace culture. The company focuses on employee development, diversity, and ensuring a supportive work environment. Training programs, employee benefits, and engagement initiatives are integral to their HR strategy.

How Hormel Foods Corporation (HRL) Makes Money

Hormel Foods Corporation (HRL) is a global branded food company with a diverse portfolio of products. The company generates revenue through several key channels, primarily focusing on product sales across various categories and markets.

Hormel Foods' revenue streams are driven by a range of product segments, each catering to different consumer needs. The main segments include:

• Refrigerated Foods: This segment includes products such as refrigerated meats, sausages, and prepared meals. Brands under this segment include Hormel®, Applegate®, and Natural Choice®.
• Grocery Products: Includes shelf-stable items like canned meats, peanut butter, and chili. Iconic brands such as Spam®, Skippy®, and Hormel® Chili fall under this category.
• Jennie-O Turkey Store: Dedicated to turkey products, this segment includes whole turkeys, ground turkey, and other turkey-based products.
• International & Other: This segment includes Hormel's global operations and products sold outside the United States. The company markets its brands in various countries, catering to local tastes and preferences.

Hormel Foods leverages multiple sales channels to distribute its products effectively:

• Retail: Products are sold through grocery stores, supermarkets, and mass merchandisers. This channel targets end consumers looking for branded food items for home use.
• Foodservice: Hormel supplies food products to restaurants, cafeterias, and other foodservice establishments. This channel caters to businesses that require bulk orders for their operations.
• Online: With the growing trend of e-commerce, Hormel Foods also sells products through various online platforms, including its own website and third-party retailers.

Hormel Foods benefits from a strong brand portfolio, which helps the company maintain competitive pricing and customer loyalty. Well-known brands like Spam®, Skippy® Peanut Butter, and Jennie-O® Turkey are recognized for their quality and consistency, allowing Hormel to command premium prices.

In addition to its existing brands, Hormel frequently engages in strategic acquisitions to diversify its portfolio and enter new markets. These acquisitions help Hormel enhance its product offerings and achieve greater market penetration.

Innovation plays a crucial role in Hormel's revenue generation. The company invests in research and development to create new products and improve existing ones. By staying ahead of consumer trends and dietary preferences, Hormel can introduce new products that cater to evolving demands, thereby driving sales growth.