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Hormel Sells Brazil Business | Durham News
Hormel Foods is exiting Brazil, selling its Ceratti brand to local rival Zanchetta Alimentos after years of underperformance that executives called a “drag” on global growth. The $104 million 2017 acquisition failed to deliver, prompting Hormel’s broader strategy to streamline operations and focus on high-potential international markets. This move reflects a wider industry trend as food giants like General Mills and Leprino Foods also divest Brazil, prioritizing profitability amid inflation, shifting consumer trends, and tighter margins. The deal, expected to close soon, won’t significantly…
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