“Our strategy for sustainable, profitable growth centers on expanding our value-added protein portfolio to meet evolving consumer needs, while reducing our exposure to more volatile, commodity-driven businesses,” said Jeff Ettinger, interim chief executive officer for Hormel. “We are confident that this portion of our legacy turkey business will be in good hands under LSI’s ownership, given their deep experience and expertise in this area.”
According to the release, LSI will also assume supply contracts with third-party turkey growers, which are dedicated to the whole-bird business and provide co-manufacturing services to Hormel through the end of its fiscal 2026, to provide uninterrupted fulfillment of customer orders during the transition.
“This transaction is an important next step in our evolution,” said John Ghingo, president, Hormel Foods. “With a more focused turkey portfolio, we will continue strengthening the value-added aspects of our JENNIE-O business. We look forward to working with LSI to ensure a smooth transition for our team members, customers, consumers and suppliers.”
Financial details of the transaction have not been disclosed. Hormel expects the sale to have a minimal impact on its adjusted fiscal 2026 financial results, which will be discussed in more detail during the company’s first quarter earnings call on Feb. 26.