Cidade do Sol

Hormel Foods, a US food company based in Austin, TX, has acquired Brazilian meat processor Cidade do Sol for approximately $104 million. According to a company press release, the acquired business will become a part of Hormel Foods’ International business unit, providing an initial entry into the Brazilian market and serving as a platform for future growth in South America. Jim Snee, president and chief executive officer of Hormel Foods said: “Strategic …