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Hormel Sees Gold In International Markets And New Food Categories

September 5, 2014: 12:00 AM EST
Hormel has decided that it’s traditional American product line – bacon, Spam, chili, pepperoni, etc. – is not multicultural, healthful or portable enough to sustain growth plans, especially in international markets. To succeed overseas the company is modifying its product portfolio through strategic acquisitions and a new launch (Natural Choice) to include ethnic flavors, health and wellness, and portability. New product categories include peanut butter (Skippy), Mexican food (MegaMex Foods and Wholly Guacamole), sports nutrition (CytoSPort) and snack wraps (REV). International sales have increased from $146 million in 2005 to $500 million this year, thanks to expansion of Spam and fresh pork products overseas, and the success of Skippy peanut butter in China.
Monica Watrous, "Hormel homes in on four growth drivers", Food Business News, September 05, 2014, © SOSLAND PUBLISHING CO.
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