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Hormel Foods hikes guidance after closing on Columbus deal

Published 11/28/2017, 08:12 AM
Updated 11/28/2017, 08:12 AM
© Reuters.  Hormel Foods hikes guidance after closing on Columbus deal
  • Hormel Foods (NYSE:HRL) announces that it closed on the acquisition of Columbus Manufacturing for $850M.
  • The company says the addition of the Columbus brand further strengthens its position as a total deli solutions provider.
  • Hormel expects this acquisition to be modestly accretive to EPS in FY18.
  • "The acquisition of Columbus is the catalyst for uniting all our deli businesses into one group," says Hormel CEO Jim Snee.
  • Hormel Foods increases its guidance to account for the acquisition. The company now sees FY18 sales of $9.7B to $10.1B and EPS landing in a range of $1.62 to $1.72.
  • HRL +0.20% premarket to $34.25.
  • Source: Press Release
  • Now read: This Year, Be Thankful For Hormel's 10% Dividend Hike And Q4 Earnings Beat


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