On the Street -- Hormel in JV for Mexican Foods in U.S.
October 30/Health & Beauty Close-Up -- Hormel Foods Corp. and Herdez Del Fuerte, announced the closing of a 50/50 joint venture agreement to create MegaMex Foods, which will market Mexican foods in the United States.
The companies said that the venture significantly expands the existing agreement between the two companies and produces a portfolio with initial revenue of about $200 million. MegaMex Foods has a portfolio that includes brands such as Chi-Chi's, Herdez, La Victoria, Embasa and Dona Maria, among others, which resonate with Mexican-American and mainstream consumers of Mexican foods.