Mar 23, 2005 9:28 AM, from staff and wire reports

Hormel Foods Corp, the Austin MN-based food producer and distributor, has signed a purchase agreement to acquire Lloyd's Barbeque Co from General Mills, which acquired the company in 1999. The anticipated closing date will be within the next few weeks. Terms were not disclosed.

With manufacturing operations in St Paul MN, Lloyd's offers barbecue products including original shredded pork, chicken and beef tubs, honey hickory shredded pork and chicken and barbecue pork spareribs, beef backribs and pork babyback ribs, all under the Lloyd's brand name.

"Lloyd's brands have earned strong market share in the retail refrigerated entree category, a business that Hormel Foods knows well," said Joel W Johnson, Hormel's chairman and chief executive officer. "We believe Lloyd's will continue to flourish as part of our roster of refrigerated products."