Hormel Foods acquires Brazil-based provider of value-added meats
Cidade do Sol offers more than 70 products in 15 categories.
Hormel Foods Corp., Austin, Minn., acquired Cidade do Sol, a Brazil-based provider of value-added meats, for approximately $104 million. The company offers more than 70 products in 15 categories, including authentic meats such as mortadella, sausage and salami for Brazilian retail and foodservice markets under the Ceratti brand.
"Strategic international growth is important to Hormel Foods, and South America has been of interest to us for several years," says Jim Snee, president and CEO, Hormel Foods. "The Ceratti brand has a strong family ownership and a rapidly-growing distribution of its portfolio of value-added products. This acquisition is a strategic fit for Hormel Foods, provides us an initial entry into the Brazilian market and will serve as a platform for future growth in South America."