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Hormel Foods to sell whole-bird turkey business amid 'volatile' market
Hormel Foods is selling its whole-bird turkey business to Life-Science Innovations to reduce exposure to volatile, commodity-driven markets and focus on value-added protein. The sale includes a production facility and feed mill, though Hormel will retain the Jennie-O brand for other turkey products. This move follows a challenging period for the whole-bird industry due to aggressive discounting.