Hormel Foods and Forward Consumer Partners Complete Transaction to Establish Justin's as a Standalone Company

Core Insights - Hormel Foods Corporation and Forward Consumer Partners have completed a strategic partnership for the Justin's brand, with Forward owning 51% and Hormel Foods owning 49% [1][2] - The partnership aims to leverage the expertise of both companies to enhance the growth potential of the Justin's brand, which includes nut butters and organic chocolate confections [1][2] Company Overview - Hormel Foods Corporation is a global branded food company with over $12 billion in annual revenue, known for brands like PLANTERS, SKIPPY, and SPAM [5][6] - Forward Consumer Partners is a private investment firm managing $425 million in committed capital, focusing on building enduring consumer brands [4] Brand Details - Justin's brand, established in 2004, offers a range of high-quality nut butters and plant-based snacks, emphasizing taste and nutrition [3] - The brand's founder, Justin Gold, returns as a strategic advisor, while Peter Burns, the former CEO, will lead the new company [2][5] Leadership and Expertise - The new leadership team includes experienced professionals with backgrounds in building consumer brands, enhancing the strategic direction of Justin's [2][5] - Val Oswalt, CEO of Kodiak, joins the board, bringing a strong track record in brand development [5]