CHINO, Calif. — Provena Foods Inc., a provider of pepperoni to pizza makers and packaged food manufacturers, announced it will be acquired by Hormel Foods Corp. for approximately $16.8 million, including assumed debt, later this year.
"We are very excited about the opportunity to join our company with such an established name in the food industry," said Provena chairman and chief executive officer Ted Arena. "The merger will give Hormel Foods a West Coast production capacity and represents significant value to the Provena shareholders."
Provena's Swiss American Sausage division makes pepperoni and Italian-style sausage for pizza chains, food processors and foodservice distributors. Its Royal-Angelus Macaroni unit is the oldest pasta maker in the United States, tracing its origins back to 1887. It makes dry pasta products for food processors, private-label customers, specialty food distributors and the foodservice industry. Provena Foods products are sold throughout the United States, but primarily in the West.