SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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) August 29, 1997
Hudson Foods, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 1-9050 71-0427616
(State of other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1225 Hudson Road, Rogers, Arkansas 72756
(Address of principal executive offices)
Registrant's telephone number, including area code (501)636-1100
Not Applicable
(Former name or former address, if changed since last report.)
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Form 8-K
Item 5. Other events.
See attached press releases issued by Hudson Foods, Inc. on August 23, 1997 and
August 27, 1997.
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Analyst/Investor Contact: Media Contact:
David Siemens (501) 631-5123 Becky Triplett (501) 636-1100
August 23, 1997 -- Rogers, Arkansas -- Hudson Foods, Inc. (HFI)
The decision by Burger King to no longer buy raw ground beef from our Columbus,
Nebraska plant is a serious disappointment. Burger King has accounted for the
major portion of raw ground beef sales from the Columbus plant.
While we are carefully reviewing all our options for that plant, we remain
convinced that the problem was brought into the plant by an outside supplier.
However, our most important and most urgent goal remains the same - to gain
approval from the USDA for the plant to operate, and thus to remove the cloud
under which it has been placed. We will spare no effort to achieve that goal as
quickly as possible.
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IBP News Release
IBP TO BUY HUDSON PLANT
Dakota City, Nebraska -- August 27, 1997 -- IBP, Inc. (NYSE : IBP) today
announced plans to buy the Hudson Foods, Inc. (NYSE : HFI) plant in Columbus,
Nebraska. The purchase of the ground beef processing facility will further
expand IBP's production of value-added food products.
IBP has taken an option to acquire the plant, which produces ground beef
products for the foodservice and retail food industries. Specific terms were not
disclosed.
Robert L. Peterson, Chairman and Chief Executive Officer of IBP said, "The
addition of this plant will strengthen our position as a provider of value-added
food products for the foodservice and retail meat business."
IBP hopes to complete the acquisition of the facility within the next several
weeks. All current Hudson employees would then be given the opportunity to be
part of IBP's new operation. "The Columbus facility has a dedicated workforce
and we hope to retain as many production and management employees as possible,"
Peterson said. The plant, which Hudson Foods opened in January 1995, currently
employs 230 people.
"We have been committed to doing all we could to get this outstanding workforce
and this fine facility back to work. After reviewing our options, we have
concluded that this sale is the best means to that end and best serves the
interests of all concerned," said HFI Chairman James T. Hudson. HFI made clear
that the proposed transaction would have no effect on support for and
cooperation with USDA activities.
"The plant is in excellent condition," Peterson said. "It is well laid out
and includes the latest production technology. We are dedicated to ensuring
the manufacture of safe, wholesome, high quality products that IBP is known
for."
IBP, headquartered in Dakota City, Nebraska, is the world's premier producer of
fresh beef, pork and related allied products. The company employs approximately
38,000 people worldwide.
Contact: Gary Mickelson, IBP Public Affairs Department
402-241-2986
Becky Triplett, HFI Corporate Communications Director
501-631-5274
