ADDED
BUSINESS General Development of Business Hormel Foods Corporation, a Delaware corporation, was founded by George A.
The Company originated as a processor of meat and food products and continues in this line of business today.
The Company has expanded its product portfolio through organic growth and acquisitions to become a global branded food company with more than $12 billion in annual revenue.
The Company is built on a foundation of innovation and integrity and a commitment to delivering high-quality, trusted food products across a diverse portfolio of brands and product solutions including Planters , SPAM , Jennie-O , Skippy , Applegate , Wholly , Hormel Black Label , Fontanini , Bacon1 , Hormel pepperoni, and more than 30 other beloved brands.
The Company is a member of the S P 500 Index and the S P 500 Dividend Aristocrats.
When used in this report, the terms "we," "our," "us," and the "Company" mean Hormel Foods Corporation and its subsidiaries, collectively, unless the context otherwise requires or indicates.
Retail The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in retail channels, including grocery stores, mass merchandisers, club stores, natural food chains, drug, dollar and discount chains, and e-commerce providers in the United States (U.S.).
Foodservice The Foodservice segment consists primarily of the processing, marketing, and sale of food products to distributors and operators across a wide range of providers of food away from home, including restaurants, hospitality, healthcare, K-12, college and universities, and convenience stores in the U.S.
International The International segment processes, markets, and sells the Company's products through retail and foodservice channels internationally.
This segment also includes the results from the Company s international joint ventures, equity method investments, and royalty arrangements, as well as operations in China and Brazil.
REMOVED
BUSINESS General Development of Business Hormel Foods Corporation, a Delaware corporation (collectively, the "Company", "we," "us," and "our"), was founded by George A.
The Company started as a processor of meat and food products and continues in this line of business with emphasis on the manufacturing and distribution of branded, value-added consumer items.
The Company builds on its founder s legacy of innovation, quality, and integrity with focus on its purpose statement Inspired People.
The Company has continually expanded its product portfolio through organic growth and acquisitions.
Today, the Company is a global branded food company bringing some of the most trusted and iconic brands to tables across the globe with approximately $12 billion in annual revenue generated from more than 80 countries.
Retail The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in the retail market in the United States.
Foodservice The Foodservice segment consists primarily of the processing, marketing, and sale of food products for foodservice, convenience store, and commercial customers located in the United States.
International The International segment processes, markets, and sells Company products internationally.
This segment also includes the results from the Company s international joint ventures, international equity method investments, and international royalty arrangements.
Net sales to unaffiliated customers, segment profit, and certain other financial information by segment are reported in Note P - Segment Reporting of the Notes to the Consolidated Financial Statements and in Management s Discussion and Analysis of Financial Condition and Results of Operations.