Hormel Foods Corp. (HRL)

Hormel Foods Corporation, incorporated on September 20, 1928, is engaged in the production of a range of meat and food products and the marketing of those products throughout the United States and internationally. The Company is a processor of branded and unbranded food products for retail, foodservice and fresh product customers. The Company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store (JOTS) and International & Other. The Company's Grocery Products segment is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and also consist of health and nutrition products, including Muscle Milk protein products. The Grocery Products segment also includes the Company's MegaMex Foods, LLC (MegaMex) joint venture. The Company's Refrigerated Foods segment consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers. The Company's JOTS segment consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers. The Company's International & Other segment includes Hormel Foods International Corporation (HFIC), which manufactures, markets and sells the Company's products internationally. The International & Other segment also includes the Company's international joint ventures.

The Company's meat products are sold fresh, frozen, cooked and canned. The Company offers its products under perishable, poultry, shelf-stable and miscellaneous categories. The perishable category includes fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole and bacon (excluding JOTS products). The poultry category is composed of JOTS products. The shelf-stable category includes canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, salsas, flour and corn tortillas, tortilla chips and other items that do not require refrigeration. The miscellaneous category consists of nutritional food products and supplements, sugar and sugar substitutes, dessert and drink mixes, and industrial gelatin products. Internationally, the Company markets its products through its subsidiary, HFIC. Through its subsidiary, Columbus Manufacturing, Inc., the Company manufactures salami, Italian specialty meats and deli meats.