Skip to main content

Hillshire could be a tasty acquisition for Hormel

  • Author:
  • Updated:
    Original:

An analyst told Bloomberg Austin, Minn.-based Hormel Foods Corp. could be interested in acquiring Hillshire Brands Co., formerly Sara Lee Corp. before spinning off its tea and coffee unit in June. Both Hillshire and Hormel declined to comment on any possible takeover deal.

The Business Journal reports Hormel was also mentioned as a possible buyer for Hillshire in June.

Hormel will release its fiscal fourth-quarter earnings report on Tuesday, Wall Street Journal reports. Net income rose 2.9 percent in the first nine months of its fiscal year.

Next Up

Screen Shot 2022-08-08 at 7.50.05 PM

Missing: 17-year-old Waite Park boy last seen July 3

Police say there is no reason to believe he's in danger.

Melanie Valencia

Northfield bicyclist killed in crash identified as 14-year-old

She was riding her bike to soccer practice before a driver hit her last week.

Samantha Holte

Appeal to find 17-year-old Minnesota girl

She was last seen north of Fergus Falls.

Pixabay - water surface

Man's body found near empty fishing boat on St. Croix River

The boat, and an unoccupied truck found on the shore, belong to a 43-year-old White Bear Lake man.

SuspectsWantedMOAShooting

Police identify MOA shooting suspects, issue nationwide warrants

Three Twin Cities residents were charged Monday in connection with helping the suspects escape.

Screen Shot 2022-08-04 at 7.25.42 PM

Charges: Best Western employees helped MOA shooting suspects escape

Prosecutors allege two Best Western employees helped the suspects escape.

election, vote

What to watch for in 2022 Minnesota primary elections

Bring Me The News brings you a breakdown of what to watch for Tuesday.

Aaron Peterson

Charges: Felon accused of firing shots at police during Meeker Co. standoff

The 31-year-old surrendered after a 28-hour standoff in rural Meeker County.

flash flooding

Weekend rain totals pushed 6+ inches in Minnesota, Iowa; 10 in Illinois

Big-time rain totals across southern Minnesota, southeast South Dakota, northern Iowa and northern Illinois.

Airport traveler flying pixabay

Man who had meth, guns in checked luggage at MSP Airport gets 10 years

Kevin Alan Aguilar-Moreno, 21, attempted to board a Delta flight to Phoenix in October of last year.

Screen Shot 2022-08-08 at 7.13.33 AM

Family identifies man killed by police in Otsego

The 21-year-old was reportedly experiencing 'mental health challenges' and allegedly had a knife when deputies opened fire.

Related

Frustrated M&I customers struggle with bumpy BMO acquisition

M&I Bank customers have threatened to cancel their account with the Wisconsin based financial firm because of technical difficulties, the Milwaukee Business Journal reports. Customers started having issues with their accounts online when the lender officially made the switch from M&I Bank to BMO Harris on Oct. 9.

Hormel Foods worker treated for tuberculosis

Workers at the Hormel Foods plant in Austin are being screened for tuberculosis after one employee there was identified with the contagious disease, KAAL TV reports. Tuberculosis is a health issue for the workers at the plant, but not a threat to food safety, the station reports.

Hormel dishes out $16.5M in bonuses to employees

Austin-based Hormel gave out $16.5 million in profit sharing to its employees. The checks amounted to about two weeks of regular pay. The bonus checks were announced a day after Hormel released its fourth-quarter and annual earnings report.

Hormel Foods 3Q net income soars 13%

Strong sales of Spam and Jennie-O products helped the Austin-based meat producer meet Wall Street expectations. Hormel's third quarter earnings rose to $111.2 million, or 41 cents per share, in the third quarter ended on July 29 compared to $98.5 million, or 36 cents per share, a year earlier.

Hormel 2Q profit jumps 17 percent to beat Wall Street predictions

The Austin-based food maker says strong demand for its Jennie-O products and Spam helped boost sales in the quarter that ended in April.

FICO completes acquisition of fraud prevention firm Adeptra

Minneapolis-based Fair Isaac Corp. has finished its $115 million acquisition of Connecticut-based Adeptra Ltd., the Associated Press reports. FICO is best known for its credit rating system.