Hormel takes aim at hunger in America
May 25, 2006 9:30 AM, from staff and wire reports
America’s Second Harvest—The Nation’s Food Bank Network and Hormel Foods Corp have signed a two-year partnership agreement to fight hunger in the United States.
As part of the agreement, Hormel will contribute $200,000 to America’s Second Harvest, sponsor events to generate awareness and funding for the organization, and continue to make protein product donations to the food bank network. In return, the Austin MN-based meat company becomes the “Leading Protein Sponsor” to the charity group.
Hormel will commission a survey to better understand consumer perceptions of hunger and will also host a Hunger Summit later in 2006. The summit aims to unite non-profit organizations fighting hunger with legislative and business leaders to share best practices and coordinate resources.
In other news, Hormel reported fiscal 2006 second quarter net earnings of $67.3 million, up 20% from earnings of $56.0 million a year earlier. For the six months ended April 30, 2006, net earnings were $136.6 million, a 13% gain compared with $120.6 million a year ago. Sales totaled $2.8 billion, up 8% from $2.6 billion in the same period a year ago.
