Hormel CEO Shifts Focus to Non-Meat Brands

James Snee says the brand behind SPAM plans to evolve in the plant-based direction.

During Hormel’s recent third quarter analysis conference, CEO James Snee revealed that the meat brand plans to focus on diversifying its non-meat holdings. In May, Hormel acquired nut butter brand Justin’s for $286 million to capitalize on the growing demand for non-meat protein. “We’ve acquired some great non-meat protein items that have really rounded out our portfolio,” Snee said. “It’s really this rounding out of our business in the protein space, the non-meat protein, and then flavor enhancers that will allow us to evolve to become a broader food company.” Snee revealed that Hormel aims to make 15 percent of its net sales in 2020 from products developed during the previous five years to help the meat company grow in an innovative direction. Competing meat brand Tyson also made an investment in vegan brand Beyond Meat earlier this year, after which its CEO Tom Hayes said that he believes the future of protein is moving away from animals and toward plants.

More News

IKEA Debuts Plant-Based Hot Dogs

The furniture giant debuted the new animal-free option at a single store in Sweden with plans to expand the offering across Europe by August.
Read More »

Rooney Mara Launches Luxury Vegan Fashion Line

New fashion brand Hiraeth includes faux-leather pants, velvet garments, and combat boots—all made ethically in Los Angeles.
Read More »

NYC Meat Emporium Now Serves Vegan Beyond Sausage

Sausage bar Schaller's Stube—an offshoot of 80-year-old meat company Schaller & Weber—has added three vegan hot dog options to its menu.
Read More »

Vegan Truffles Beat 141 Brands in Blind Taste Test

Chocolates made by United Kingdom brand Booja-Booja received top honors in Good Housekeeping's annual Easter Egg Taste Test.
Read More »

POC-Owned Vegan Lipstick Brand Debuts at Target

Vegan Bawse Lady red lipstick, and other hues aimed at women of all skin tones, will be available at 100 Target stores by May.
Read More »

This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

More Videos »