Hormel Foods Corp. announced that it has met its “Go for $2B by 2012” goal by achieving $2 billion in total sales from new products created since 2000 by the end of fiscal year 2012.
“Our company was founded on innovation and that spirit continues to guide us today,” said Jeffrey M. Ettinger, chairman, president and chief executive officer of Hormel Foods, in a prepared statement. “Generating more than $2 billion in sales from products that didn’t exist 12 years ago is a remarkable accomplishment. I am proud of all our 19,600 employees around the world whose hard work and commitment to making Hormel Foods successful continues to propel our company forward.”
According to Hormel Foods, it was able to meet the challenge because of the success of new products across its business divisions. The most successful new products include Hormel® party trays, Hormel®Natural Choice® deli meats, Hormel® Compleats® microwave meals and Jennie-O Turkey Store® oven ready items and turkey burgers.