Confirmed Control Closed Transaction verified ConsumerFood & BeverageNatural And Organic Prepared Meats

Applegate Farms, LLC acquired by Hormel Foods Corporation

Hormel Foods Corporation acquired Applegate Farms, LLC, a US natural and organic prepared meats brand, on May 26, 2015.

Transaction summary

Target: Applegate Farms, LLC
Acquirer: Hormel Foods Corporation
Seller: -
Announced: 2015-05-26
Geography: United States
Tags: ConsumerFood & BeverageNatural And Organic Prepared Meats
Type: Acquisition
Deal type: Control
Stake acquired: -
First added: 2026-10-04
Latest update: 2026-10-04

Value and multiples

100% enterprise value

USD 775M

100% enterprise value | USD

Basis: Estimated

Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.

EV / revenue

2.28x

Period: 2015E 2015

Basis: Derived from source data

EV / EBITDA

EBITDA basis not stated

Basis: Public source

Amounts paid and other reported values

Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.

Consideration: USD 775M

Approximately USD775m announced purchase price; later final cash purchase price USD774.1m. Announced price used as estimated whole-company EV proxy under FCR-211.

Basis

USD 775m enterprise value is a FundComb estimate. Public sources reviewed confirm the transaction, but do not independently disclose every valuation input.
Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
Implied EV / revenue is 2.28x, calculated from USD 775m value and USD 340m revenue.
Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
Hormel announced Applegate at approximately USD775m and completed the acquisition July13,2015. A later filing reported final cash purchase price USD774.1m, following an earlier preliminary figure. Expected2015 sales were approximately USD340m, a forecast. Announced-price EV proxy / forecast revenue = USD775m / USD340m = approximately2.28x; calculated. USD775m announced price / USD340m forecast2015 sales = approximately2.28x Expected2015 annual sales approximately USD340m; derived multiple uses approximately USD775m announced price.

Source summary

Hormel Foods to Acquire Applegate

Confirmed

Applegate 2015 annual sales are expected to be about $340 million. The purchase price is approximately $775 million.

Open source

Hormel Foods Corporation Form 8-K — Acquisition Completion

Confirmed

On July 13, 2015, Hormel Foods Corporation (the Company) completed the previously announced acquisition of Applegate Farms, LLC

Open source

Hormel Foods 2015 Annual Stockholders’ Report

Confirmed

The acquisition contributed $92.8 million of net sales since the date of acquisition.

Open source

Hormel Foods to Acquire Applegate

Confirmed

AUSTIN, Minn., (May 26, 2015) – Hormel Foods Corporation

Open source

Hormel Foods to Acquire Applegate

Confirmed

definitive agreement to acquire Applegate Farms, LLC

Open source

Reviewed public transaction evidence

Confirmed

for a preliminary purchase price of $775 million in cash

Open source

Reviewed public transaction evidence

Confirmed

for a final purchase price of $774.1 million in cash

Open source