COSTA MESA, Calif., April 28, 2005 (PRIMEZONE) -- Hormel Foods Corporation (NYSE:HRL) has acquired privately held Mark-Lynn Foods, Inc. Transaction terms were not disclosed.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Mark-Lynn Foods.
"With this acquisition, Hormel further expands its specialty foods division, particularly its rapidly growing portion control segment serving the 'on-the-go' culture of North America," said Paul Weisbrich, senior managing director of RSM EquiCo Capital Markets.
About RSM EquiCo, Inc.
RSM EquiCo is a global investment bank serving private middle-market companies throughout North America. With more than 400 professionals and support staff in North America and Europe, RSM EquiCo specializes in mergers, acquisitions, divestitures and capital raising for companies with up to $500 million in annual revenue. The firm is part of RSM McGladrey Inc., a business segment of H&R Block.
About Mark-Lynn Foods
Mark-Lynn Foods, based in Bremen, Georgia, manufactures and distributes over 300 portion-controlled food products. The company's products, which began with salt and pepper packets, now range from ketchup and salad dressings to instant coffee and pudding mixes. Mark-Lynn Foods offers product blending, packaging (including package design and printing) and delivery to its clients, which are mainly in the food service, convenience store and coffee and vending industries.
About Hormel Foods Corporation
Hormel Foods Corporation, based in Austin, Minnesota, is a multinational manufacturer and marketer of meat and food products. Hormel's products include hams, bacon, sausages, stews, chilies, shelf-stable microwaveable entrees, salsas and frozen processed foods. These selections are sold to retail, food service and wholesale operations under many well-established trademarks that include Dinty Moore, Hormel, Rosa Grande and Spam.