Sources: Hormel Foods Nears Deal For Applegate Farms

Hormel Foods Corp is in late-stage talks to acquire Applegate Farms LLC, a privately held producer of organic hot dogs, bacon and sausages, to enhance its branded protein offerings, according to people familiar with the matter.

A deal for Applegate Farms could be announced as early as next week and value the Bridgewater, New Jersey-based company at between $600 million and $1 billion, the people said, asking not to be named because the matter is confidential.

A representative for Applegate Farms could not be reached for comment. Hormel declined to comment.

To read the rest of the story, please go to: Reuters