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MarketScreener Homepage  >  Equities  >  Nyse  >  Hormel Foods    HRL

HORMEL FOODS

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Hormel to Sell Muscle Milk Producer CytoSport to PepsiCo -- 3rd Update

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02/19/2019 | 08:31pm EDT

By Josh Beckerman and Jennifer Maloney

Hormel Foods has agreed to sell Muscle Milk producer CytoSport to Pepsi.

Hormel said in a statement that it expects to complete the deal in 30 to 60 days. It didn't state the deal price, but will provide more details in its earnings call Thursday.

Hormel bought CytoSport in 2014 for about $450 million, calling the deal a "growth catalyst" for its Specialty Foods unit. At the time, it expected CytoSport to post 2014 sales of about $370 million. The sellers were the Pickett family and TSG Consumer Partners.

PepsiCo has distributed Muscle Milk since 2009. The company called the deal a tuck-in acquisition, and said Hormel's Muscle Milk and protein bars will become part of PepsiCo's North America beverages unit. "This transaction is yet another example of ways we are building a consumer-centric portfolio of brands that offer a breadth of options across convenient foods and beverages," a PepsiCo spokeswoman said in an email.

In addition to Muscle Milk, the transaction also includes the Cytomax, Monster Milk and Evolve products.

Write to Josh Beckerman at josh.beckerman@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 -0.11% 17.62 End-of-day quote.27.48%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.12% 16.63 End-of-day quote.9.93%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 1.02% 36.975 End-of-day quote.-21.54%
HORMEL FOODS 0.15% 41.45 Delayed Quote.-2.88%
MILK (CLASS III) (DA) - CMR (FLOOR)/C1 -0.11% 17.62 End-of-day quote.0.00%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.34% 102.8 End-of-day quote.12.89%
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Financials (USD)
Sales 2019 9 540 M
EBIT 2019 1 170 M
Net income 2019 971 M
Finance 2019 563 M
Yield 2019 2,01%
P/E ratio 2019 23,2x
P/E ratio 2020 23,3x
EV / Sales2019 2,26x
EV / Sales2020 2,19x
Capitalization 22 128 M
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Technical analysis trends HORMEL FOODS
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TrendsNeutralNeutralNeutral
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 11
Average target price 38,45  $
Last Close Price 41,45  $
Spread / Highest target 11,0%
Spread / Average Target -7,24%
Spread / Lowest Target -25,2%
EPS Revisions
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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