WASHINGTON (dpa-AFX) - Packaged foods company Hormel Foods Corp. (HRL) late Monday announced that it has agreed to sell its Brazilian operations, operated under the Ceratti brand, to Zanchetta Alimentos Ltda, a Brazilian food company. The financial terms of the deal were not disclosed.
Hormel expects the sale to have a minimal impact on adjusted fiscal 2026 results.
The deal would close in the coming weeks, subject to customary closing conditions including regulatory approval.
Ceratti operations will continue as usual for employees, customers and partners during the interim, the company said in a statement.
Hormel said the divestiture reflects its efforts to simplify the portfolio and focus international strategy on markets with the strongest long-term growth.
The company plans to provide additional details regarding the sale on its fiscal third-quarter 2026 earnings call.
Hormel shares fell 0.42 percent to $26.20 in overnight trading on the NYSE, after ending Monday's regular session 0.75 percent lower.
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