Hormel Foods to buy family-owned chicken firm Brakebush for $1.06 billion
HRL•Hormel Foods said it will buy Brakebush Brothers for $1.06 billion. The chicken processor generated nearly $1.2 billion in net sales over the last 12 months, and the deal is expected to close in the first quarter of fiscal 2027.
1. Deal details
Hormel Foods said Wednesday it would acquire family-owned Brakebush Brothers for $1.06 billion. The Westfield, Wisconsin-based company sells processed raw and cooked chicken, including patties, wings and nuggets, and generated nearly $1.2 billion in net sales over the last 12 months.
2. Expected timing
Hormel expects the deal to close in the first quarter of fiscal 2027 and to add to adjusted earnings per share from fiscal 2028. Brakebush has been operated by the Brakebush family since 1925.
3. Hormel outlook
Hormel, which owns brands including Applegate, cut its annual sales forecast last month after missing third-quarter sales estimates. Its shares rose about 2% in premarket trading after the deal announcement.
