May 2016

Acquisition of Justin’s® Nut Butters

•Established in 2004 in the home kitchen of health enthusiast Justin Gold, Justin’s® makes naturally delicious, high-quality nut butters, nut butter snacks and organic peanut butter cups that deliver great taste, unique texture and convenient nutrition.

•Hormel, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry.

Situation Overview

•The Hormel team engaged HT Capital to advise and support their potential interest in Justin’s® as an acquisition candidate, across the many facets of the evaluation, negotiation and execution process.

•Justin’s® products align perfectly with Hormel’s goal of complementing its existing brands with new offerings that resonate with younger, on-the-go and more health-conscious consumers. Hormel and Justin’s® will work together to bring these great products to even more consumers, leveraging key Hormel resources to drive continued innovation and growth to this on-trend category.

Hormel Foods benefited from senior HT Capital bankers’ significant food & beverage industry and transaction experience, which helped differentiate them as the selected party in a competitive process.

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