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"The acquisition advances Hormel Foods' strategy of investing in growing protein categories," the US group said.
Investing.com -- S&P Global Ratings and Moody’s Ratings downgraded credit ratings for Hormel Foods Corporation (NYSE:HRL) following the packaged food company’s announcement of a $1.055 billion deal to acquire value-added chicken processor Brakebush Brothers Inc.
Hormel Foods (NYSE:HRL) has agreed to acquire value-added chicken company Brakebush Brothers, LLC for approximately $1.055 billion in cash, a transaction the company said would expand its foodservice presence and increase its exposure to the chicken category. The deal is structured on a cash-free,
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The payment will go to shareholders of record in October and marks Hormel’s 393rd consecutive quarterly dividend.

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