Hormel Foods Establishes Partnership with Forward to Fuel Growth for the Justin's® Brand

Core Insights - Hormel Foods Corporation and Forward Consumer Partners have signed a definitive agreement to establish a strategic partnership, allowing the Justin's® brand to become a standalone company, with Forward owning 51% and Hormel Foods owning 49% [1][3] Company Overview - Justin's® brand was founded in 2004 by Justin Gold, starting with handcrafted almond butters sold at the Boulder Farmers Market, and has since grown into a recognized brand in nut butters and organic snacks [2][5] - Hormel Foods acquired Justin's® in 2016 and has since expanded its product offerings, including various nut butters and confectionery items [3][5] Leadership Changes - Justin Gold will return as a strategic advisor and board member, while Peter Burns will resume his role as CEO, bringing extensive experience from previous leadership positions in the food and beverage industry [3][4] Strategic Goals - The partnership aims to leverage the strong brand equity of Justin's® and unlock its growth potential, reflecting Hormel Foods' broader strategy to enhance the value of its brands [3][4] Financial Context - Forward Consumer Partners manages $425 million in committed capital through its debut fund, which closed in 2023, indicating a strong financial backing for the new partnership [6]