May 26, 2015 / 8:45 PM / 3 years ago

Hormel Foods to buy organic meat company Applegate for $775 million

(Reuters) - Hormel Foods Corp (HRL.N), the maker of Spam lunch meat, said it would buy meat processor Applegate Farms LLC for about $775 million to expand its natural and organic meat products.

Applegate will operate as a standalone unit of Hormel’s refrigerated foods business, Hormel said on Tuesday.

Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Don Sebastian

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