Hormel’s Fremont Processing Plant Sold to WholeStone Farms, LLC

FREMONT - Hormel Foods Corporation announced today that the Fremont processing facility will be sold to WholeStone Farms, LLC, with the sale to become final by December 2018, pending various conditions. The sale includes the Fremont processing facility and an agreement to supply pork materials to Hormel Foods. Fremont's plant management team and workforce will remain in place, according to reports. "The Fremont facility has been an important part of our company for decades, and we are certainly pleased to have found a home for this team and facility with WholeStone Farms," said Jim Snee, president and chief executive officer at Hormel Foods in a statement to Business Insider. "The strategic decision to transition the Fremont facility to WholeStone Farms reflects the long-term, changing dynamics in the pork industry, and most importantly, is aligned with our vision as a global branded food company." This multiyear supply agreement with WholeStone Farms continues the work of the Fremont facility as an integral part of Hormel's supply chain. "Our focus continues to be on ensuring a stronger supply chain from procurement to shipment of products, fully optimizing our system to create an efficient, enterprise-wide structure to keep pace with the growing needs of our business," said Glenn Leitch, executive vice president of supply chain at Hormel Foods. "The purchase of the Fremont, Neb., processing facility from Hormel Foods aligns with our vision to create and capture value in the pork supply chain for the 220 independent producers who own WholeStone Farms," stated Dr. Luke Minion, chairman of the board of directors of WholeStone Farms. "We value the dedication and experience the existing team brings to WholeStone Farms, and are committed to significant additional investments in the facility for production efficiencies and enhancing employee wellness." H/T - Business Insider, Markets Insider