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Article: Hormel Foods and Herdez Del Fuerte Complete JV Agreement.
- Article from:
- Health & Beauty Close-Up
- Article date:
- October 30, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. 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)
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Hormel Foods Corp. and Herdez Del Fuerte, announced the closing of a 50/50 joint venture agreement to create MegaMex Foods, which will market Mexican foods in the United States.
The Companies said that the venture significantly expands the existing agreement between the two companies and produces a portfolio with initial revenue of about $200 million. MegaMex Foods has a portfolio that includes brands 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 new venture takes our relationship with Hormel Foods to the next level, and it is a win-win ...