MegaMex Foods Announces Close of Fresherized Foods Acquisition
August 22, 2011
Fresherized Foods produces Wholly Guacamole®, Wholly Salsa® and Wholly Queso® products. Annual sales are expected to be about $140 million.
Wholly Guacamole® is the leading brand of prepared guacamole in the United States. Guacamole and other 100-percent real avocado products continue to grow in popularity with supermarket and restaurant consumers due to their great flavor and nutritional attributes. Fresherized Foods uses High-Pressure Processing (HPP), a U.S. Department of Agriculture approved all-natural process. HPP uses high water pressure technology to protect the avocado product. This process implements the highest standards of food safety without using preservatives or compromising the great taste and nutritional value of the avocado product.
“We look forward to the growth Wholly Guacamole®, Wholly Salsa® and Wholly Queso® products will add to the MegaMex Foods portfolio of products,” said Enrique Hernández-Pons Torres, chairman of the board of MegaMex Foods. “This acquisition enhances the position of MegaMex Foods as a one-stop-shop for Mexican foods.”
“We are pleased with the closing of this purchase,” said Luis G. Marconi, managing director at MegaMex Foods. “Guacamole continues to build in popularity among consumers, not only as a nutritious and flavor-enhancing dip, but also as a sandwich spread. We look forward to developing programs with these products that will expand the presence of our Mexican-inspired food products in the marketplace.”
This news release contains forward-looking information based on management’s current views and assumptions. Actual events may differ materially. Please refer to the cautionary statement regarding Forward-Looking Statements and Risk Factors that appear on pages 33-39 in the Hormel Foods Corporation Form 10-Q for the quarter ended May 1, 2011, which was filed with the SEC on June 10, 2011, and can be accessed at www.hormelfoods.com under “Investors-SEC Filings.”