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AUSTIN, Minn. -- Hormel Foods Corp. today announced the acquisition of Sparta, Wis.-based Century Foods International in a $115 million cash transaction. Century Foods International is a manufacturer of nutritional products, dairy proteins and blends, and cheese products.
Century Foods International has a strong market share in the manufacture and distribution of powders and supplements for many of the nation's top-selling branded nutritional products. This acquisition will further enhance the position of Hormel Foods in the growing specialty foods segment.
Century Foods International is a major supplier of ingredients for whey protein powders, ready-to-drink protein beverages, and nutrition bars. These products are sold to the health, sports, nutritional, and food supplement industries.
The $6 billion category of sports nutrition supplements and functional foods has recorded strong growth in recent years. Consumer sales in this market grew 15 percent in 2001, driven by increasing health awareness.