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Article: Hormel Foods and Herdez Del Fuerte Announce Close of MegaMex Foods Agreement.
- Article from:
- Food Weekly News
- Article date:
- November 12, 2009
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Hormel Foods Corporation (NYSE: HRL) and Herdez Del Fuerte, S.A. de C.V., announced the closing of a 50/50 joint venture agreement to create MegaMex Foods, LLC, which will market Mexican foods in the United States.
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 comprehensive portfolio that includes brands such as CHI-CHI'S[R], HERDEZ[R], LA VICTORIA[R], EMBASA[R] and DONA MARIA[R], among others, which resonate with Mexican-American and mainstream consumers of Mexican foods.
"This new venture takes our relationship with Hormel Foods ...