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MarketScreener Homepage  >  Equities  >  Nyse  >  Hormel Foods Corporation    HRL

HORMEL FOODS CORPORATION

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Hormel Foods : MegaMex Foods Launches New Purpose Statement and Corporate Brand

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02/13/2020 | 10:46am EDT

ORANGE, CALIF. - MegaMex Foods, a leader in the $6.5 billion Mexican foods category, is marking its 10th anniversary by unveiling a new corporate logo and purpose statement, 'Reimagining Mexican Flavor.'

'Our 10th anniversary is the perfect time to proudly reflect on our past, while setting the tone for the next 10 years and beyond for MegaMex Foods,' said Ryan Michaelis, president and chief executive officer of MegaMex Foods. 'We're passionate about creating the flavors Mexican food lovers love and our new purpose statement and corporate branding reflect who we are today and where we are headed. The new statement encompasses the innovative thinking, culinary expertise and passion of our team members and the leadership position our company is taking in the on-trend and growing Mexican foods category.'

MegaMex Foods was founded in 2009 as a joint venture between two giants in the food industry, Hormel Foods in the United States and Herdez del Fuerte in Mexico.

'Our brands and products combine the authenticity of Mexico with new ways consumers can add these bold flavors to any meal,' Michaelis continued. 'Products like HERDEZ Guacamole Salsa, WHOLLYGuacamole minis and snack cups and CHI-CHI'S Foldables tortillas are just a couple examples of how we are taking traditional Mexican foods and putting a new and convenient spin on them.'

The new logo is a symbol ripe with meaning, it's fresh, confident and bold. The tomato, pepper and avocado are essential ingredients, rooted in the company's history of Mexican cooking. The spoon and fork celebrate the meals we share - how family, friends and food are passions that connect us all. And the blossoms represent the world of new flavors and ideas MegaMex Foods explores every day. The logo weaves together the traditional with the new.

The new logo, purpose statement and corporate branding efforts will be rolling out over the coming weeks and months through new ads and a redesigned corporate website.

AdAge Big Game Marketer's Brief

The Hormel Foods Big Game 54-Topping Pizza featured in AdAge's daily marketer's brief

ABOUT MEGAMEX FOODS

MegaMex Foods, one of the fastest growing Mexican foods companies in the world, is reimaging Mexican Flavor in restaurants and home kitchens across the country and is passionate about creating the flavors Mexican food lovers love. Leading the way with fresh ideas, MegaMex Foods is committed to the authentic ingredients and foods that bring families together with trusted brands found in homes across Mexico and the United States like HERDEZ products, America's No. 1 selling salsa verde and WHOLLY Guacamole, the No. 1 branded refrigerated guacamole in the United States, CHI-CHI'S, LA VICTORIA, EMBASA, DON MIGUELand DONA MARIAbrands. Founded by Herdez Del Fuerte and Hormel Foods, MegaMex Foods is inspired by a passion for authentic Mexican flavors and backed by over 200 years of commitment to the great flavors and exciting new ideas consumers and foodservice operators crave. MegaMex Foods is headquartered in Orange, Calif., with offices in Texas and Mexico and has nine operating plants, numerous manufacturing partners, and over 4,100 employees.

ABOUT HORMEL FOODS - INSPIRED PEOPLE. INSPIRED FOOD.

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. Its brands include SKIPPY, SPAM, Hormel Natural Choice, Applegate, Justin's, Columbus, Wholly guacamole, Hormel Black Label and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of 'The 100 Best Corporate Citizens' by Corporate Responsibility Magazine for the 11th year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future - Inspired People. Inspired Food. - focusing on its legacy of innovation. For more information, visit www.hormelfoods.com and https://csr.hormelfoods.com/.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 9 688 M
EBIT 2020 1 173 M
Net income 2020 941 M
Finance 2020 472 M
Yield 2020 1,94%
P/E ratio 2020 27,4x
P/E ratio 2021 26,0x
EV / Sales2020 2,64x
EV / Sales2021 2,57x
Capitalization 26 018 M
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Mean consensus HOLD
Number of Analysts 12
Average target price 43,09  $
Last Close Price 47,58  $
Spread / Highest target 7,19%
Spread / Average Target -9,43%
Spread / Lowest Target -28,5%
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Managers
NameTitle
James P. Snee Chairman, President & Chief Executive Officer
James N. Sheehan Chief Financial Officer & Executive Vice President
Kevin L. Myers Senior Vice President-Research & Development
Dakota A. Pippins Independent Director
Elsa A. Murano Independent Director
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