WASHINGTON (dpa-AFX) - Hormel Foods Corp. (HRL), a branded food company, announced Wednesday it has entered into a definitive agreement to acquire Brakebush Brothers, LLC, a value-added chicken producer, from the Brakebush family for approximately $1.055 billion.
The transaction is expected to close during the first quarter of Hormel Foods' fiscal 2027, subject to customary closing conditions, including regulatory approval.
The acquisition aligns with Hormel Foods' strategy of investing in growing protein categories and will meaningfully expand the company's position in value-added chicken.
The deal is also expected to strengthen Hormel Foods' Foodservice platform through enhanced operator relationships, category expertise, and an expanded direct sales organization.
Hormel Foods anticipates the acquisition will generate growth and unlock operational synergies while enhancing cash flows. The company expects the acquisition to be accretive to adjusted earnings per share beginning in fiscal 2028. Brakebush's operations are expected to be reported primarily in Hormel Foods' Foodservice segment.
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