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Hormel Foods, the company behind brands such as Spam and Hormel Black Label Bacon, has announced a series of significant developments designed to position the business for long-term growth and operational efficiency.

As part of these plans, Hormel Foods has initiated a corporate restructuring aimed at aligning resources with strategic priorities and strengthening the business, announced yesterday (4 November 2025).

As part of this initiative, Hormel Foods as introduced a voluntary early retirement programme and will reduce around 250 corporate roles across its office-based workforce.

It is expected that this restructuring will result in up to $25 million in charges, most of which will be recognised in the fourth quarter of 2025 and the first of 2026.

Speaking about the changes, John Ghingo, president of Hormel Foods, said: “We’re directing resources toward technology, innovation, food safety and quality and the people capabilities that will shape our future“.

The company has also recently announced the appointment of an interim chief financial officer and revealed that its nut butter brand, Justin’s, will now operate as a stand-alone company.

On 27 October 2025, Hormel announced the appointment of Paul Kuehneman as interim chief financial officer and controller, succeeding Jacinth Smiley and reporting to Jeff Ettinger, interim chief executive officer. Hormel Foods plans to conduct a comprehensive search for a permanent CFO in the coming months.

Kuehneman has held multiple leadership roles at Hormel, including as VP and controller. Ettinger praised him as “a respected leader with deep knowledge of our business and a proven track record of results.”

In a move reflecting Hormel’s broader strategy to optimise its brand portfolio, the company also revealed a strategic partnership with Forward Consumer Partners, a private investment firm, on 28 October 2025. Under this agreement, Justin’s – which Hormel acquired in 2016 – will once again operate as a stand-alone company, owned 51% by Forward and 49% by Hormel Foods.

Since acquiring the brand, Hormel has expanded its product line of nut butters and organic chocolate snacks, with the aim that the new partnership with unlock further growth.

As part of the deal, Justin Gold, the brand’s founder, will return as a strategic advisor and Peter Burns, who previously led the company prior to its sale to Hormel, will return as Justin's CEO.

Despite restructuring costs and other challenges, Hormel Foods continues to emphasise long-term brand investment, operational modernisation and strategic portfolio management.

“We remain confident in the relevance of our portfolio and our brands,” Ettinger said, “Our focus is on sustainable, profitable growth and delivering long-term value for our shareholders.”