MegaMex Foods Adds Wholly Guacamole® and Other Products to Mexican Foods Portfolio

MegaMex Foods LLC, a joint venture between Hormel Foods Corporation

and Herdez Del Fuerte, S.A. de C.V., today announced it has entered into a definitive agreement to acquire 100 percent of Fresherized Foods. Fresherized Foods produces Wholly Guacamole®, Wholly Salsa® and Wholly Queso® products. Annual sales are expected to be about $140 million. The transaction is expected to close in August 2011; terms are not disclosed. 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, an all-natural, U.S. Department of Agriculture-approved process that uses high water pressure technology to protect the avocado product. HPP implements the highest standards of food safety without using preservatives or compromising the great taste and nutritional value of the avocado product. “Expanding our portfolio of products with these new items continues to enhance the position of MegaMex Foods as a one-stop-shop for Mexican foods,” said Enrique Hernández-Pons Torres, chairman of the board of MegaMex Foods. “This acquisition is another example of our continued focus on building the platform of Mexican foods we offer.”