November 26/Austin, Minn./Business Wire -- Hormel Foods Corporation announced that it has met its ambitious “Go for $2B by 2012” goal by achieving $2 billion in total sales from new products created since 2000 by the end of fiscal year 2012.

By attaining this goal, Hormel Foods continues its successful track record of creating innovative, new products to grow the company’s brand portfolio, notes a press release. The “Go for $2B by 2012” goal built upon the company’s success with its earlier Billion Dollar Challenge, which was to generate $1 billion in sales from new products launched in the decade, beginning fiscal year 2000 and ending fiscal year 2009. By the end of fiscal year 2007 -- two years early -- Hormel Foods reported total sales of $6.19 billion with more than $1 billion generated from new product sales.

“Our company was founded on innovation and that spirit continues to guide us today,” said Jeffrey M. Ettinger, chairman, president and chief executive officer of Hormel Foods. “Generating more than $2 billion in sales from products that didn’t exist 12 years ago is a remarkable accomplishment. I am proud of all our 19,600 employees around the world whose hard work and commitment to making Hormel Foods successful continues to propel our company forward.”