Hormel Foods completed the acquisition of a 29% stake in Garudafood from CVC.

Hormel Foods, a food processing company, completed the acquisition of a 29% stake in Garudafood, a food and beverage company, from CVC, a private equity and investment advisory firm. Financial terms were not disclosed. "This strategic investment enhances our partnership with Garudafood, which has been instrumental in helping us expand our business into Indonesia and Southeast Asia. Garudafood is a market leader, with strong and reputable brands, local expertise and a best-in-class distribution network. We look forward to accelerating our presence in these high-growth geographies and the snacking and entertaining category as we further leverage the strengths and capabilities of both companies," Jim Snee, Hormel Foods Chairman, President and CEO.