August 20, 2018

Hormel pork processing facility to be sold to Wholestone Farms

A US pork processing facility - based in Nebraska and under the ownership of Hormel Foods - will be sold to Wholestone Farms, Minnesota Public Radio reported. 

The deal will enable Hormel to have a guaranteed supply of meat for its products. By selling its Nebraska plant, the company could redirect its investment to more profitable uses, including acquisitions of other food companies and brands, according to Michael Boland, a professor of agricultural economics at the University of Minnesota.

WholeStone Farms agreed to supply pork to Hormel Foods for several years. It is owned by 220 Midwest farmers who raise 12 million pigs a year.

The price of the transaction is not disclosed.

- Minnesota Public Radio