Key Stats
Founded: November 1891
Headquarters: Austin, Minnesota, USA
Interim CEO: Jeff Ettinger (2025)
Employees: ~20,000
Revenue: $12.1 billion (fiscal 2025)
Stock Symbol: HRL (NYSE)
S&P 500 Dividend Aristocrats: 59 consecutive years of dividend growth
Hormel Foods Corporation is an American multinational food processing company headquartered in Austin, Minnesota. Founded by George A. Hormel in 1891 as a small pork packing operation, the company has grown into a global branded food company with approximately $12 billion in annual revenue and products sold in over 80 countries worldwide.
Hormel’s portfolio includes more than 30 brands spanning processed meats, refrigerated foods, turkey products, snacks, and international offerings. Its most recognizable brands include SPAM (the iconic shelf-stable luncheon meat introduced in 1937), Skippy peanut butter, Planters nuts, Jennie-O turkey products, Applegate organic and natural meats, and the flagship Hormel brand itself. The company operates through three segments: Retail, Foodservice, and International.
The company has evolved significantly from its meatpacking origins. Beginning in the 1980s, Hormel shifted toward value-added and branded food products, reducing its reliance on commodity pork and beef. Major acquisitions have accelerated this transformation, including Jennie-O Foods (1986), Skippy peanut butter ($700 million, 2013), Applegate Farms ($775 million, 2015), Columbus Craft Meats ($850 million, 2017), and Planters ($3.35 billion, 2021). Hormel is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, having increased its dividend for 59 consecutive years.
Hormel Foods History
1891
Company Founded
George A. Hormel establishes George A. Hormel & Company in Austin, Minnesota, transforming an abandoned creamery on the Cedar River into a meatpacking plant. The company starts with 11 employees and processes 610 hogs in its first season.
1901-1928
Early Growth & Innovation
The company incorporates in 1901 and expands distribution centers to major cities. Hormel introduces the world’s first canned ham (1926) and becomes a public company (1928). George Hormel retires as CEO in 1927, and his son Jay C. Hormel becomes president in 1929.
1937
SPAM Introduced
Hormel introduces SPAM, a canned spiced ham and pork product that would become the company’s most iconic brand. SPAM gains massive distribution during World War II, with Hormel producing 15 million cans per week by 1941 for U.S. military consumption under the lend-lease program.
1940s-1960s
Post-War Expansion
George Hormel dies in 1946. The company transitions to non-family leadership with H.H. “Tim” Corey as the first non-family president. Hormel processes its 50 millionth hog (1952), reaches $250 million in annual sales, and introduces iconic products like Hormel Little Sizzlers and Cure 81 hams (1963). By 1959, one billion cans of SPAM have been sold.
1982-1986
New Plant & Strike
Hormel opens a $100 million state-of-the-art manufacturing plant in Austin (1982). A bitter 10-month strike at the Austin plant (1985-1986) gains national attention amid industry wage pressures. Hormel acquires Jennie-O Foods (1986), entering the turkey processing business.
1993-2001
Name Change & Turkey Expansion
The company changes its name to Hormel Foods Corporation (1993), reflecting its diversification beyond meat. Annual sales exceed $1 billion (1994). Hormel acquires The Turkey Store (2001) and combines it with Jennie-O Foods to form Jennie-O Turkey Store, then the largest acquisition in company history. The SPAM Museum opens in Austin (2001).
2013-2017
Strategic Acquisitions
Hormel acquires Skippy peanut butter from Unilever for $700 million (2013), gaining the #1 brand in China and #2 worldwide. Applegate Farms, a leader in organic and natural meats, is acquired for $775 million (2015). Justin’s nut butters ($286 million, 2016) and Columbus Craft Meats ($850 million, 2017) follow.
2021-2025
Planters & Transformation
Hormel acquires Planters snack nuts from Kraft Heinz for $3.35 billion (2021), the largest acquisition in company history. The company reorganizes into three segments (Retail, Foodservice, International) in 2022. In 2025, Hormel announces the sale of its whole-bird turkey business and the spinoff of Justin’s as a standalone company, focusing on value-added protein and reducing commodity exposure.
Founder: George A. Hormel
George Albert Hormel (1860–1946)
George A. Hormel was born on December 4, 1860, in Buffalo, New York, to German immigrant parents John and Susanna Hormel. When the Panic of 1873 devastated the family’s finances, 13-year-old George quit school to work in his father’s tannery in Toledo, Ohio. He later moved to Chicago to work in his uncle Jay Decker’s meat market, where he learned the meatpacking trade.
Throughout the 1880s, Hormel worked as a traveling buyer of hides and wool across the Midwest, gaining experience that would prove invaluable. In 1887, he borrowed $500 and partnered with Albrecht Friedrich to open a meat market in Austin, Minnesota, a town he had grown fond of during his travels. When the partnership dissolved in 1891, Hormel used the proceeds to establish his own pork packing operation.
Unlike the “Big Five” Chicago meatpackers who dominated the industry, Hormel competed by emphasizing quality over quantity. His insistence on cleanliness and attention to detail were unusual in the meatpacking industry at the time. He also pioneered the “direct buying” model, purchasing hogs directly from local farmers rather than relying on centralized stockyards. His philosophy was “Originate, don’t imitate.”
Hormel led the company until 1927, when at age 67 he retired from day-to-day operations but continued as chief executive officer. His son Jay C. Hormel succeeded him as president in 1929. George died in 1946 at age 85, having seen his small packing operation grow into an industry leader. The Hormel Foundation, which he established in the 1940s, continues to support charitable causes and funds the Hormel Institute, a University of Minnesota research facility.
Key Brands & Acquisitions
Hormel has built its portfolio through both organic brand development and strategic acquisitions, evolving from a pork packing company to a diversified food manufacturer.
- SPAM (1937) – Iconic shelf-stable luncheon meat; over 8 billion cans sold worldwide; especially popular in Hawaii, South Korea, and the Philippines
- Jennie-O Foods (1986) + Turkey Store (2001) – Combined to form Jennie-O Turkey Store, one of the largest turkey processors in the U.S.
- Skippy ($700M, 2013) – Acquired from Unilever; #2 peanut butter brand globally, #1 in China
- Applegate Farms ($775M, 2015) – Leading natural and organic prepared meats brand
- Justin’s ($286M, 2016) – Organic nut butters and confections; spun off in 2025 as a standalone company
- Columbus Craft Meats ($850M, 2017) – Premium deli meats and charcuterie
- Planters ($3.35B, 2021) – Iconic nut brand acquired from Kraft Heinz; largest acquisition in Hormel history
- Wholly Guacamole / Herdez – Mexican food brands expanding ethnic food offerings
- Hormel brand products – Includes Hormel Black Label bacon, Hormel Natural Choice, Dinty Moore, and Mary Kitchen
Hormel Foods Revenue
Hormel Foods has grown from a regional meatpacker to a global branded food company with approximately $12 billion in annual revenue. Fiscal year ends in late October.
Hormel Foods Competitors
Hormel competes with large meat processors, packaged food companies, and specialty brands across its diverse product categories.
| Company | Headquarters | Focus |
|---|---|---|
| Tyson Foods | Springdale, AR | Beef, pork, chicken; Jimmy Dean, Hillshire Farm |
| Smithfield Foods | Smithfield, VA | World’s largest pork processor (WH Group subsidiary) |
| JBS USA | Greeley, CO | Beef, pork, poultry (JBS S.A. subsidiary) |
| Conagra Brands | Chicago, IL | Packaged foods; Slim Jim, Healthy Choice |
| Kraft Heinz | Chicago/Pittsburgh | Oscar Mayer, Lunchables deli meats |
| Cargill | Minnetonka, MN | Beef, protein processing (private) |
| Butterball | Garner, NC | Turkey products; competes with Jennie-O |
| General Mills | Minneapolis, MN | Packaged foods, snacks (Annie’s, Progresso) |
| Perdue Farms | Salisbury, MD | Chicken, turkey; family-owned |
| Pilgrim’s Pride | Greeley, CO | Poultry (JBS S.A. subsidiary) |
FAQs
What does SPAM stand for?
The exact meaning of “SPAM” has never been officially confirmed by Hormel. The most widely accepted explanation is that it’s a combination of “spiced ham” or “shoulder of pork and ham.” The name was chosen in a 1937 contest by Kenneth Daigneau, an actor and the brother of a Hormel executive, who won $100 for the winning entry. Hormel has intentionally kept the origin ambiguous as part of the brand’s mystique. The product itself is made from pork shoulder meat, ham, salt, water, potato starch, sugar, and sodium nitrite.
Why is SPAM so popular in Hawaii and Asia?
SPAM’s popularity in Hawaii and parts of Asia (particularly South Korea, the Philippines, and Guam) traces back to World War II. During the war, SPAM was distributed extensively to U.S. military personnel stationed in the Pacific. The shelf-stable, protein-rich product became a dietary staple during wartime food shortages and remained popular after the war ended. In Hawaii, SPAM is considered a local delicacy and appears in dishes like SPAM musubi (SPAM on rice wrapped in seaweed). Hawaii consumes more SPAM per capita than any other U.S. state—approximately 7 million cans annually.
Is Hormel a family-owned company?
No, Hormel is a publicly traded company (NYSE: HRL) and has not been family-controlled for decades. The company went public in 1928. George A. Hormel’s son Jay C. Hormel served as president and later chairman until his death in 1954. The last non-family president took over in 1946 (H.H. “Tim” Corey). Today, the Hormel Foundation—established by the founding family—holds a significant equity stake but does not control company operations. The foundation uses dividends to support charitable causes in Austin, Minnesota, and funds the Hormel Institute at the University of Minnesota.
What was the 1985-1986 Hormel strike?
In August 1985, workers at Hormel’s Austin, Minnesota plant went on strike after management demanded a 23% wage cut. The strike lasted 10 months and became one of the most publicized labor disputes of the 1980s. The local union (United Food and Commercial Workers Local P-9) was not supported by its parent union, creating internal conflict. The strike led to a national boycott of Hormel products and significant media attention. It ended in June 1986 with many workers not returning to their jobs. The strike highlighted broader tensions in the meatpacking industry during a period of wage cuts and consolidation.
What is Hormel’s dividend history?
Hormel is a member of the S&P 500 Dividend Aristocrats, having increased its annual dividend for 59 consecutive years as of fiscal 2024—one of the longest dividend growth streaks among publicly traded companies. The company paid its 385th consecutive quarterly dividend in November 2024 at an annual rate of $1.13 per share. This consistent dividend growth reflects Hormel’s stable cash flows from its branded food portfolio and its commitment to returning value to shareholders.