Hormel Foods Corp. (NYSE: HRL) has bought foodservice business Fontanini Italian Meats and Sausages for $425 million. The acquisition adds to Hormel Foods’ branded products, and brings a new production facility into the fold.
Fontanini is a family-owned business specializing in “authentic” Italian meats, sausages and other meat products, including pizza toppings and meatballs. Originally doing business as Capitol Wholesale Meats Inc., the target was founded by Oriano Fontanini and his wife Jennie Fontanini. The company intends to leverage Hormel Foods’ growing base of customers in the lodging, restaurant, healthcare, and education sectors. The meats producer will continue to operate from its Chicago-based manufacturing facility and report into Hormel’s refrigerated foods division.