Hormel Foods to sell pork processing facility to Wholestone Farms

Hormel Foods has signed a definitive agreement to sell its pork processing facility in Fremont, Nebraska, US, to WholeStone Farms, for an undisclosed price.

The deal also includes a multi-year agreement to supply raw pork products to Hormel Foods.

Hormel Foods board chairman, president and CEO Jim Snee said: “The Fremont facility has been an important part of our company for decades, and we are certainly pleased to have found a home for this team and facility with WholeStone Farms.

“The strategic decision to transition the Fremont facility to WholeStone Farms reflects the long-term, changing dynamics in the pork industry, and most importantly, is aligned with our vision as a global branded food company.”

Subject to customary closing conditions, the deal is expected to be completed in December.

Upon completion, the existing management team and workforce at the Fremont facility will continue to remain in place in order to ensure business continuity for all stakeholders.

WholeStone Farms board of directors chairman Dr Luke Minion said: “The purchase of the Fremont, Nebraska, processing facility from Hormel Foods aligns with our vision to create and capture value in the pork supply chain for the 220 independent producers who own WholeStone Farms.

“We value the dedication and experience the existing team brings to WholeStone Farms, and are committed to significant additional investments in the facility for production efficiencies and enhancing employee wellness.”

Established in 2017, WholeStone Farms aims to create and capture value in the pork supply chain.