Hormel Foods Corp. (HRL) said that it has acquired a minority stake in Indonesia's PT Garudafood Putra Putri Jaya Tbk.
Hormel Foods purchased approximately 29% of the shares of Garudafood from CVC and other shareholders. The transaction closed during Indonesia Stock Exchange trading hours on December 15, 2022.
Garudafood's branded portfolio includes many leading snacking products, such as Garudapeanut snacks, Gery biscuits and confectionary products, and Chocolatos wafer sticks.
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