Hormel agrees to buy organic and natural meat maker Applegate Farms

The maker of Spam is going organic.

Hormel Foods Corp. said Tuesday that it has agreed to buy Applegate Farms, a leading organic and natural meat maker, for about $775 million. The acquisition would be Austin-based Hormel’s largest — and a big play in the hot market for natural foods.

The deal for Bridgewater, N.J.-based Applegate is the third-largest acquisition for Hormel over the past two years, as the packaged food company looks to further diversify.

http://www.startribune.com/hormel-agrees-to-buy-organic-and-natural-meat-maker-applegate-farms/305064971/