Hormel Foods and Forward Consumer Partners have established a partnership to make Justin’s a standalone company, with 51% ownership by Forward and 49% by Hormel, leveraging the brand's growth potential in the organic food market.

Target Information

Hormel Foods Corporation (NYSE: HRL), a prominent Fortune 500 global branded food enterprise, has finalized a transaction with Forward Consumer Partners ("Forward"), a private investment firm dedicated to building branded consumer products. The agreement establishes Justin’s as an independent company, with Forward acquiring a 51% ownership stake and Hormel Foods retaining 49%. Justin's is renowned for its category-leading offerings, which encompass nut butters and USDA-certified organic chocolate confections. This strategic move marks a pivotal development for the Justin’s brand, bringing back founder Justin Gold as a strategic advisor and board member, while former CEO Peter Burns assumes the role of CEO in the new venture.

The management team includes seasoned professionals such as Hunt Killough, Mark Doiron, and Jeff Perkel, all of whom have significant experience in driving the growth of consumer brands. Additionally, David Ziegert and Randy Gilbride, both with extensive backgrounds in packaged foods, join this team. The new board also features Val Oswalt, CEO of Kodiak and an esteemed member of Forward’s advisory board, noted for his successful track record in brand building.

Industry Overview in the United States

The U.S. food industry is a dynamic sector characterized by innovation, diversity, and sustainability trends. The country's extensive population presents vast opportunities for food products, parti