Flash FinanceUS
Market closed S&P 5007,549.94+2.35% Nasdaq25,253.14+2.74% Dow 3052,389.75+2.15% Russell 20002,840.81+3.15% Nasdaq-10027,907.62+3.40% MidCap 4003,715.23+3.13% SmallCap 6001,722.37+2.89% VIX19.92-22.31% 10Y Yield4.86+0.10% Close of Nov 09, 2026
AI brief of an SEC Form 8-K · Hormel Foods (HRL)

Hormel Foods to buy Brakebush for $1.055 billion in cash

Neutral Impact 4 of 5 m&a Written later

Hormel Foods agreed on September 29, 2026 to acquire all outstanding membership interests of Brakebush Brothers, LLC, a value-added chicken company, for a base price of $1.055 billion in cash, subject to customary adjustments. The deal is expected to close in the first quarter of Hormel's fiscal 2027, subject to antitrust waiting periods and other closing conditions, and the company expects it to be accretive to adjusted earnings per share beginning in fiscal 2028.

Key points

  • Base purchase price of $1.055 billion in cash, subject to customary adjustments
  • Brakebush generated approximately $1.2 billion in net sales over the last 12 months, per the press release
  • Expected closing in the first quarter of fiscal 2027; either party may terminate if not completed by March 29, 2027, with a possible three-month extension
  • Company plans to finance the deal with a combination of cash on hand and long-term debt and expects run-rate cost synergies of about $20 million by the end of fiscal 2028

The filing

CompanyHormel Foods (HRL)
Form8-K, current report
Filed with the SECSep 30, 2026, 6:45 AM ET
Accession number0001104659-26-112101

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 30, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.