During the annual Barclays Back-to-School Consumer Conference in Boston,
Mass., Jeffrey M. Ettinger, chairman of the board, president and chief
executive officer at Hormel Foods Corporation (NYSE:HRL), offered
insights on the company’s strategies for driving growth, including
innovation efforts to deliver products that fit the needs of today’s
consumer. Particular areas of interest include growing trends in
portable and nutritious foods, multicultural flavors and expansion into
global markets.
“Our continued focus on innovation has brought creative and convenient
value-added food products to consumers,” Ettinger said. “It has also
enabled us to keep our broad portfolio of iconic brands fresh and
relevant with new flavors, packaging and convenience.
“The launch of SKIPPY® singles, along
with the growth of Hormel® REV® wraps
and Wholly Guacamole® minis are examples of
innovative new ways to give our consumers snacking options with the
portability they crave,” Ettinger continued. “Our Jennie-O Turkey Store
products and Hormel® Natural Choice®
deli meats offer better-for-you options for consumers.”
In August, Hormel Foods acquired CytoSport Holdings, Inc., the maker of Muscle
Milk® products. CytoSport’s brands align with the
company’s focus on protein, while further diversifying the Hormel Foods
portfolio. The acquisition will serve as a growth catalyst for the
company’s Specialty Foods segment, and also offers a branded avenue for
our company in the fast growing sports nutrition space. Ettinger stated Muscle
Milk® products will be a key contributor to
the company’s growing portfolio of products focused on portable foods
and better-for-you trends.
In addition to innovation, the company will be focusing on driving sales
outside of the United States as Ettinger stated, “We have done a nice
job of expanding sales of our SPAM® family of
products outside the United States, and SKIPPY®
peanut butter has been a complimentary growth vehicle for our
international business.”
Ettinger concluded by highlighting the company’s experienced management
team and strong history of solid financial performance, noting the
company has increased dividends to shareholders for 48 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 500 Dividend Aristocrats for 2014, was named the
2013 Sustainable Supply Chain of the Year by Refrigerated & Frozen Foods
magazine, and was again named one of “The 100 Best Corporate Citizens”
by Corporate Responsibility Magazine for the sixth year in a row. Hormel
Foods was recognized on the G.I. Jobs magazine list of America’s Top 100
Military Friendly Employers in 2012 and 2013, and named one of the 2014
40 Best Companies for Leaders by Chief Executive magazine. 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.
Copyright Business Wire 2014