|
|
Article: Hormel Foods and Herdez Del Fuerte Announce Launch of MegaMex Foods.(Company overview)
- Article from:
- Food Business Week
- Article date:
- July 9, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Hormel Foods (NYSE:HRL) and Herdez Del Fuerte, S.A. de C.V., announced a definitive agreement to create MegaMex Foods, a 50/50 joint venture to market Mexican foods in the United States.
The venture will significantly expand the existing agreement between the two companies and produces a portfolio with initial revenue of about $200 million. The comprehensive portfolio includes brands and products, such as CHI-CHI'S®, HERDEZ®, LA VICTORIA®, EMBASA® and DONA MARIA®, among others, which resonate with Mexican-American and mainstream consumers of Mexican foods.
"This expanded, long-term agreement with Herdez Del Fuerte is an example ...