Hormel Foods Reports on Its COVID-19 Actions and Community Support; Company Pledges $1 Million to Hunger-Relief Causes
Hormel Foods, a global branded food company (NYSE: HRL), has taken prudent action to protect its global workforce of 20,000 team members and stakeholders during the COVID-19 outbreak. In addition, the company announced its pledge of $1 million in cash and product donations for hunger relief and food insecurity as a result of this crisis.
Since COVID-19 was first identified in China, the company has been following all current CDC and WHO guidance and taking appropriate steps in business planning and continuity. We continue to ensure the highest sanitation and food safety standards are maintained in all production facilities. In addition, Hormel Foods has enhanced its operating protocols at all of its office locations. These enhancements include education for team members on the COVID-19 virus, increased sanitization frequency, updated policies for visitors, business travel restrictions and remote work options for team members.
Comment from Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods:
“First and foremost, I want to recognize our incredible team of production professionals who have risen to the challenge. With a sense of responsibility and pride, they continue to produce food for millions of people who are in the midst of this crisis.
We understand the critical role we play in providing safe and high-quality food to people around the world. We have a responsibility to ensure our products are available when needed, and we are working closely with our retail and foodservice customers to provide a steady supply of all our products, just as we have done over the last 129 years.
We have seen strong demand for our branded products across all retail categories; notably, our SPAM® family of products, SKIPPY® peanut butter products, Hormel® chili, Hormel® Compleats® microwave meals, Jennie-O® turkey products, Hormel® pepperoni, Hormel® Black Label® bacon, Hormel Gatherings® party trays, Hormel® Natural Choice® lunchmeats, Dinty Moore® beef stew and Applegate® products.
We know the foodservice industry is facing tremendous challenges, and we are positioned to help distributors and operators through this difficult time. Our dedicated salesforce is working to deliver innovative products and solutions to meet the changing dynamics in this industry.
Our manufacturing facilities continue to operate normally. I am particularly proud of the dedicated professionals across our entire supply chain who are working tirelessly to meet the needs of our customers, consumers and operators.
We are a great neighbor in the communities where we live and work and can be counted on to do even more during a time like this. That is why we are so proud to make this $1 million pledge to help those who are food insecure during this difficult time.
Hormel Foods has a strong balance sheet and stable cash flows that position us to manage through this unprecedented situation. Our long-term perspective, balanced business model and financial discipline allow us to make the best strategic decisions for our business, team members and customers.
On behalf of our team members, I would like to thank the healthcare professionals, first responders, local, state and federal government agencies, and everyone working to keep us safe during this unprecedented crisis.”