HRL News & Events

Hormel Foods announced it has completed the previously announced sale of its whole-bird turkey business to Willmar, Minn.-based Life-Science Innovations. "LSI has taken ownership of an existing whole-bird production facility in Melrose, Minn., a feed mill in Swanville, Minn., and associated transportation assets. The production facility will now operate under the name Legacy Turkey; the Melrose, Minn., workforce has joined LSI as part of the transition. LSI has also assumed supply contracts with dedicated third-party hen growers. Hormel Foods continues to own and use the JENNIE-O brand name and produce ground turkey, deli meats, turkey burgers, turkey bacon, turkey franks, and other turkey items for retail and foodservice customers. The company has also retained the right to sell JENNIE-O OVEN READY whole turkey birds and turkey breasts. In addition, Hormel Foods continues to own and operate its other turkey production facilities, feed mills, transportation assets and live production operations associated with raising and processing turkeys for value-added turkey products. The divesture reinforces the continued strategic shift Hormel Foods is making toward expanding its value-added protein portfolio and reducing its exposure to more volatile, commodity-driven businesses. Hormel Foods and LSI previously announced the transaction on Feb. 26. Financial terms of the transaction have not been disclosed. Additional information about the transaction will be provided in the company's next Quarterly Report on Form 10-Q," the company stated.

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly.MEATPACKERS UNDER INVESTIGATION:After President Trump in November accused beef companies of manipulating prices for cattle and driving up prices for consumers, the Justice Department's antitrust division is criminally investigating the conduct of large meatpackers, reported's Dave Michaels and Patrick Thomas. The Justice Department disclosed an investigation of beef companies after Trump's call for intervention, but officials haven't revealed that it is a criminal probe, the report noted. Publicly traded companies in the meat production space include Hormel Foods, JBS, Pilgrim's Prideand Tyson Foods.IRAN WAR, TARIFFS:In an interview with CNBC, President Donald Trump said the U.S. is in "strong negotiating position" with Iran and that he does not want to extend the ceasefire further. The president also told CNBC he expects the U.S. to make "great deal" with Iran. Discussing tariffs, Trump said he will "remember" the companies that don't seek refunds.DOW CONTRACT:Elbit Systemshas been awarded a maximum $21,663,920 firm-fixed-price, indefinite-quantity contract for image intensifiers. This was a sole-source acquisition using justification 10 U.S. Code 3204(1), as stated in the Federal Acquisition Regulation 6.302-1. This is a five-year contract with no option periods. The ordering period end date is April 19, 2031. Type of appropriation is fiscal 2026 through 2031 defense working capital funds. The using customer is Navy.

After President Trump in November accused beef companies of manipulating prices for cattle and driving up prices for consumers, the Justice Department's antitrust division is criminally investigating the conduct of large meatpackers, reported The Wall Street Journal's Dave Michaels and Patrick Thomas. The Justice Department disclosed an investigation of beef companies after Trump's call for intervention, but officials haven't revealed that it is a criminal probe, the report noted. Publicly traded companies in the meat production space include Hormel Foods (HRL), JBS (JBS), Pilgrim's Pride (PPC) and Tyson Foods (TSN).