Hormel Foods Corporation (NYSE:HRL) acquired an additional 29% stake in PT Garudafood Putra Putri Jaya Tbk (IDX:GOOD) from CVC Capital Partners Limited and others on December 15, 2022. Barclays PLC (LSE:BARC) acted as financial advisor to Hormel Foods, and Faegre Drinker Biddle & Reath LLP served as legal counsel to Hormel. BofA Securities was the exclusive financial adviser to CVC, and White & Case LLP served as legal counsel to CVC.

Hormel Foods Corporation (NYSE:HRL) completed the acquisition of an additional 29% stake in PT Garudafood Putra Putri Jaya Tbk (IDX:GOOD) from CVC Capital Partners Limited and others for $410.6 million on December 15, 2022.