Hormel Foods has reached an agreement to acquire US meat producer Sadler’s Smokehouse for $270 million.
Based in Henderson, Texas, Sadler’s specialises in pit-smoked meats for both retail and foodservice customers.
Hormel has been a Sadler’s customer for more than two decades. Its annual sales excluding Hormel are approximately $140 million.
“Sadler’s Smokehouse is a great company with an impressive history, talented team and an outstanding portfolio of on-trend products that resonate with consumers, customers and operators,” said Jim Snee, Hormel Foods CEO.
“This is a very strategic acquisition for our foodservice business and it gives us another successful brand to expand into the retail and deli channels.”
Sadler’s Smokehouse will continue operations from its Henderson facility and will report into Hormel’s refrigerated foods segment. It is expected the deal will close in March.
Sadler’s Smokehouse owner, Harold Sadler, added: “Hormel Foods has an excellent reputation as one of the best food companies in the world. We are excited for our employees and family knowing Hormel Foods will continue the Sadler family legacy.”
© FoodBev Media Ltd 2020
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