In the race to join the health foods trend, Spam maker, Hormel Foods, has bought the organic meat brand Applegate for a reported $775 million.
The newly bought brand promotes itself as “natural and organic” meat producers, whose animals are raised without antibiotics and hormones.
MORE INDUSTRY NEWS:
- Co-op Atlantic votes to sell to Sobeys
- European lab and testing giant makes headway in North America
- NBTY Appoints Chief Scientific Officer
Yahoo Finance’s Aaron Task believes this is a good way for Hormel to diversify and cash in on the popularity of the health foods trend.
Hormel is following the lead set by other popular brands in the past few years. Other popular canned food brands that have shifted to the organic foods market include Campbell Soup who bought juice maker Bolthouse Farms and General Mills who bought out organic mac and cheese maker Annie’s last year.
