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Hormel Foods Finalizes Sale of Fremont, Neb., Processing Facility

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Austin, Minn.
Hormel Foods Corporation (NYSE:HRL) today announced it has completed the sale of its Fremont, Neb., processing facility to Wholestone Farms, LLC.
The transaction includes a processing facility and a multiyear agreement to supply pork raw materials to Hormel Foods. The current Fremont plant management team and workforce will remain in place to ensure business continuity for all stakeholders. The purchase price was $30 million in cash, subject to select inventory and administrative adjustments.