Looking to strengthen its presence in foodservice, Hormel Foods has purchased condiment manufacturer Mark-Lynn Foods for about $42.5 million. The Bremen, Ga.-based Mark-Lynn Foods manufactures ketchup, mustard, sauces and salad dressings, salt and pepper, creamers, sugar packets, drink mixes and desserts.
Hormel"s Crystal Brands unit, according to company chairman Joel Johnson, will manage the business. He expects the acquisition to strengthen the foodservice-focused capabilities of Hormel's specialty foods business segment.
Johnson notes that half of today's food dollars are spent outside of the home, and doesn"t see that trend changing.
Hormel has served such foodservice operations as Hard Rock Cafe, Famous Daves and Pizza Hut.
Associated Press, Meatingplace.com