Hormel and Philippines' Pure Foods Form Joint Venture

Hormel Foods International Corp. (Austin, MN) is teaming up with a Philippines company to produce and market a variety of canned foods and refrigerated meats. The maker of SPAM has announced a joint venture with Pure Foods Corporation, a major consumer foods company based in Manila.

The joint venture will be known as The Purefoods-Hormel Company and will market their products under both the Pure Foods and Hormel brands. The processed meat division of Pure Foods will be spun off to the new enterprise, with Pure Foods retaining 60% ownership and HFIC owning the 40% balance.

HFIC has owned an interest in Pure Foods, a member of the Ayala Group of Companies, since April 1972. Over this 26-year association, Pure Foods has manufactured a variety of Hormel branded canned products and refrigerated meats. Pure Foods is currently licensed to produce SPAM luncheon meat and various Hormel brand product such as chopped ham, Vienna sausage, corned beef, bacon hot dogs, luncheon meat and pepperoni.

Expanding our successful relationship with Pure Foods will enable us to increase our branded food business in the Philippines and Southeast Asia, said V. Allan Krejci, director of public relations for Hormel Foods. Combining the expertise of both world-renowned companies will enhance our established product lines and enable us to introduce additional brands in the region.

Established in 1956, Pure Foods has a variety of food-related operations, including processed meats manufacturing, foodservice, poultry, livestock, feeds and flour.

Hormel Foods is a multinational company that manufactures a wide variety of consumer products. The company exports to more than 50 countries worldwide and has subsidiaries, licensee and affiliate arrangements in eight foreign countries.