Hormel Foods, Herdez Del Fuerte complete joint venture

Austin, Minnesota-based Hormel Foods and Mexico City-based Herdez Del Fuerte has announced the completion of their 50/50 joint venture agreement to create MegaMex Foods, which will market Mexican foods in the US.

The intention to form the joint venture was first announced in June. The venture significantly expands the existing agreement between the two companies and produces a portfolio with initial revenue of about US$200 million.

MegaMex Foods offerings include brands such as Chi-Chi's, Herdez, La Victoria, and Embasa, among others. MegaMex Foods is a free-standing entity with an independent management team based in Chino, California.