Hormel Foods Corp. has merged its specialty foods segment into its grocery products segment, which Luis Marconi, group VP, grocery products, will continue to lead. The primary focus of the segment is on delivering a “strong branded portfolio of leading products to the evolving retail environment of food, drug, mass, club and e-commerce,” says the company.
“I am confident that the consolidation of these two segments will deliver revenue and cost synergies in all aspects of the business while continuing to deliver industry-leading growth,” said Jim Snee, chairman of the board, president and CEO at Hormel Foods. “The grocery products segment will be a model for strategic management of iconic brands such as the Spam family of products and Skippy peanut butter products, while also nurturing the continued growth of franchises like Wholly Guacamole dips, Muscle Milk protein products and Justin’s nut butters.”
According to Hormel, the grocery products segment has delivered consistent, profitable growth with a focus on legacy brands, nut butters and multi-cultural food innovation. The specialty foods portfolio consists of health and nutrition products, including Muscle Milk protein products.
Hormel, based in Austin, Minnesota, is a global branded food company with more than $9 billion in annual revenues across more than 80 countries worldwide.