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00:02Hormel Foods said Wednesday it will buy family-owned chicken processor Brakebush Brothers for $1.06
00:07billion as it expands its protein portfolio, according to Reuters. Brakebush generated
00:12nearly $1.2 billion in net sales over the last 12 months. The Wisconsin-based company
00:18sells processed raw and cooked chicken, including patties, wings, and nuggets.
00:22Hormel said,
00:23The acquisition is expected to close in the first quarter of fiscal 2027 and add to adjusted
00:28earnings per share beginning in fiscal 2028. The deal comes as consumers increasingly
00:33gravitate toward protein-rich meals. Hormel last month cut its annual sales forecast
00:37after missing third-quarter sales estimates. Its shares rose about 2% in pre-market trading.
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