BRAKEBUSH acquired by HORMEL FOODS

Hormel Foods entered into a definitive agreement to acquire Brakebush Brothers from the Brakebush family for approximately $1–10bn, in a transaction announced on 30 September 2026. Brakebush, a family-owned chicken processor based in Westfield, Wisconsin, generated net sales of approximately $1–10bn over the preceding twelve months, implying an EV/revenue multiple of 0.9x. Founded in 1925, the business supplies value-added chicken products to foodservice operators nationwide through its own sales organisation and established customer relationships. The acquisition would expand Hormel's position in value-added chicken and strengthen its Foodservice business, combining Brakebush's product expertise and direct relationships with restaurant operators with Hormel's existing portfolio and distribution capabilities. Hormel expected the transaction to generate operational synergies, improve cash flows and become accretive to adjusted earnings per share from fiscal 2028. Brakebush's results were expected to be reported primarily within Hormel's Foodservice segment. The Brakebush family, which had owned and operated the company since its founding, was the seller, with Carey Brakebush serving as chairman of the board at the time of the agreement. Wells Fargo acted as exclusive financial adviser to Hormel Foods, with Faegre Drinker Biddle & Reath serving as legal counsel. William Blair advised Brakebush exclusively on financial matters, while Michael Best & Friedrich LLP acted as its legal counsel. Completion was expected in the first quarter of Hormel's fiscal 2027, subject to closing conditions, including regulatory approval.

By taking control of Brakebush, Hormel Foods continues its expansion strategy. Previously, the group had completed 2 acquisitions, including Applegate in 2015.