SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 17, 1996
HORMEL FOODS CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-2402 41-0319970
(Commission File Number) (IRS Employer Identification Number)
1 Hormel Place, Austin, Minnesota 55912
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (507) 437-5737
Pages: This report contains three (4) pages numbered sequentially from
this cover page.
Item 5. OTHER MATERIALLY IMPORTANT EVENTS
October 17, 1996
The Company announced that Robert F. Patterson, Group Vice president
of the Prepared Foods Group, and a Director of the Company, will
retire December 31, 1996. Eric A. Brown, currently Senior Vice
President of the Meat Products Group was named to succeed Patterson.
The full text of the announcement follows:
"AUSTIN, MINN. (October 17, 1996) -- Hormel Foods Corporation today
announced that Robert F. Patterson, group vice president of the
Prepared Foods Group, will retire December 31, culminating a long and
successful 32-year business career.
Eric A. Brown, currently senior vice president of the Meat Products
Group, was named to succeed Patterson as group vice president. The
Prepared foods Group is comprised of two important business units of
the company, the Grocery Products Division and Specialty Products
Division.
PATTERSON
Patterson's retirement ends a loyal and exemplary Hormel Foods career
that began in August 1964 as a grocery products sales representative
in Rochester, N.Y. His is a long history of accomplishment in food
industry marketing, sales and general management that, early in his
career, included responsibilities as a product marketing manager,
district manager and regional sales manager.
He gained invaluable experience as director of grocery products sales
in 1981 and, one year later, as director of grocery products
marketing. In 1984, Patterson was elected vice president of the
Grocery Products Division, serving in this capacity for three years
before advancing to group vice president of prepared foods. He was
elected to the Board of Directors and named to the company's Executive
Committee in 1990.
"A seasoned Hormel Foods veteran, Bob has brought great distinction
to our company and well deserved recognition to himself," said Joel
W. Johnson, chairman of the board, president and chief executive
officer. "Under his leadership, both the Grocery Products and
Specialty Products Divisions have enjoyed solid growth and have made
significant contributions to the company's total financial
performance. Bob's many years of outstanding service will be
missed."
BROWN
As newly elected group vice president of prepared foods, Brown will
return to overseeing the company's Grocery Products Division where he
has spent nearly all of his 25 years with the company. His early
career paralleled very closely that of Patterson, beginning as a
grocery products sales representative and, later, serving as a product
marketing manager, district manager, regional sales manager and
director of grocery products sales.
Brown was named vice president of the Grocery Products Division in
1987 and continued in that capacity until late 1993 at which time he
moved to the Meat Products Group as newly elected senior vice
president. "His exposure to this segment of the company's operation
and the knowledge and experienced gained prepares him well for this
latest advancement and return to the prepared foods side of the
business," said Johnson.
Brown's position in meat products as senior vice president will not be
filled due to a recent restructuring and consolidating of marketing
functions involving the Hormel and Dubuque brands."
October 18, 1996
The Company announced the completion of a private placement of Senior
Notes in the amount of $110 million. The full text of the
announcement follows:
"AUSTIN, MINN. (October 18, 1996) -- Hormel Foods Corporation,
multinational processor and marketer of consumer-branded meat and food
products, today announced the completion of a private placement of
Senior Notes in the amount of $110 million. The Senior Notes will
mature October 15, 2002, and October 15, 2006.
The notes were placed with Lutheran Brotherhood, Minneapolis, Minn.;
Metropolitan Life Insurance Company, Convent Station, N.J.; Nationwide
Life Insurance Company, Columbus, Ohio; Principal Mutual Life
Insurance Company, Des Moines, Iowa, and TMG Life Insurance Company,
Brookfield, Wis.
Proceeds from the private placement will be used for a meat
products/foodservice processing plant and distribution center now
under construction in Osceola, Iowa, and for other general corporate
purposes. "This now-completed financing package will enable the
company to continue its aggressive building program and to take
advantage of internal or external expansion opportunities that may
arise in the future," said V. Allan Krejci, director of public
relations."
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this Report
to be signed on its behalf by the undersigned thereunto
duly authorized.
HORMEL FOODS CORPORATION
(Registrant)
By
D. J. HODAPP
Executive Vice President
and Chief Financial Officer
By
M. J. McCOY
Treasurer
Dated: October 29, 1996
