Date of Report (Date of earliest event reported) February 10, 2021
HORMEL FOODS CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
1-2402
41-0319970
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification Number)
1 Hormel Place
Austin, MN55912
(Address of Principal Executive Office)
(507) 437-5611
Registrant’s telephone number, including area code:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock $0.01465 par value
HRL
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Section 1 — REGISTRANT'S BUSINESS AND OPERATIONS
Item 1.01 Entry into a Material Definitive Agreement
On February 10, 2021, Hormel Foods Corporation (the “Company”) entered into a definitive agreement to acquire the Planters® snack nut portfolio from the Kraft Heinz Company. The proposed transaction is expected to close in calendar Q2 2021, subject to regulatory review and approval.
The purchase price is $3.35 billion, subject to customary adjustments.
The Company intends to file the definitive agreement with its next quarterly report on Form 10-Q.
Section 7 — REGULATION FD
Item 7.01 Regulation FD Disclosure
On February 11, 2021, the Company issued a press release announcing a definitive agreement to acquire the Planters® snack nut portfolio. A copy of the press release is furnished as Exhibit 99 to this Form 8-K and is incorporated herein by reference.
The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
