Form 8-K · Current report
Hormel Foods 8-K, filed Sep 30, 2026
- Filed
- CIK
- 0000048465
- Accession no.
- 0001104659-26-112101
Summary
Hormel Foods has agreed to acquire value-added chicken processor Brakebush Brothers from the Brakebush family for a base cash price of about $1.055 billion, a deal expected to close in the first quarter of Hormel's fiscal 2027 subject to antitrust clearance and customary conditions. Hormel CEO-designate John Ghingo and interim CEO Jeff Ettinger said the acquisition would expand the company's value-added chicken and Foodservice businesses, and Brakebush chairman Carey Brakebush said the family expects the company to continue under Hormel's ownership.
Key points
- Brakebush Brothers, founded in 1925 and headquartered in Westfield, Wisconsin, generated about $1.2 billion in net sales over the prior 12 months and operates five production facilities and two research and development labs.
- Hormel expects the deal to be accretive to adjusted earnings per share beginning in fiscal 2028 and to report Brakebush's results primarily in its Foodservice segment.
- Closing is conditioned on expiration or termination of waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act and other antitrust laws, with termination rights if the deal is not completed by March 29, 2027, subject to a possible three-month extension for outstanding regulatory approvals.
- Wells Fargo advised Hormel and William Blair advised Brakebush; legal counsel were Faegre Drinker Biddle & Reath and Michael Best & Friedrich, respectively.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 7.01Regulation FD Disclosure
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01 Entry into a Material Definitive Agreement. On September 29, 2026, Hormel Foods Corporation (the “Company”) entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Brakebush Holdings, Inc. (“Seller”) and Brakebush Brothers, LLC (“Brakebush”), pursuant to which the Company has agreed to acquire from Seller all of the outstanding membership interests of Brakebush. The purchase price consists of a base purchase price of $1.055 billion in cash, subject to customary adjustments. …
An excerpt of the text as filed with the SEC, cut for length.
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