8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)   December 29, 2004

HORMEL FOODS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	1-2402	41-0319970
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)

1 Hormel Place

Austin, MN  55912

(Address of Principal Executive Office)

Registrant’s telephone number, including area code:  (507) 437-5611

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 1 – REGISTRANT’S BUSINESS AND OPERATIONS

Item 1.01 Entry into a Material Definitive Agreement

On December 29, 2004, Hormel Foods Corporation (“Hormel”) entered into a definitive Stock Purchase Agreement with Joseph D. Clougherty, Anthony P. Clougherty, Bernard J. Clougherty, Kathleen C. Regan, the Bernard J. Clougherty Annuity Trust, the Joseph D. Clougherty Annuity Trust, the Anthony P. Clougherty Annuity Trust and the Kathleen C. Regan Annuity Trust (collectively, the “Sellers” and each a “Seller”) and Patrick F. Collins (the “Sellers’Representative”)  for the acquisition of all of the stock of Clougherty Packing Company (Clougherty), a privately held Southern California pork processor and creator of the “Farmer John” brand of pork products popular throughout the Southwestern United States.  The transaction closed on December 29, 2004.

The purchase price for all of the stock was approximately $186 million, and was paid in cash on December 30, 2004.  The purchase price is subject to a post-closing working capital and EBITDA adjustment to be completed within four months after closing.   In addition to the stock purchase, Hormel also agreed to purchase from the Sellers, subject to certain conditions, certain live growing operations located in California for up to an additional $10 million.  The parties have also agreed that the Sellers shall retain the responsibility for remediating certain pre-existing environmental conditions on the acquired properties following the closing.

Hormel intends to file the Agreement with its next quarterly report on Form 10-Q.

Section 7 – REGULATION FD

Item 7.01 Regulation FD Disclosure

On December 30, 2004, the Company issued a press release announcing the acquisition of Clougherty Packing Company.  A copy of the earnings release is furnished as Exhibit 99 to this Form 8-K and is incorporated herein by reference.

Section 9 – FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits

(c)Exhibits furnished pursuant to Item 7.01

99            Earnings release issued December 30, 2004

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

		HORMEL FOODS CORPORATION
		(Registrant)
Dated:	December 30, 2004	By	/s/J. M. ETTINGER
			J. M. ETTINGER
			President and
			Chief Operating Officer
Dated:	December 30, 2004	By	/s/J. N. SHEEHAN
			J. N. SHEEHAN
			Vice President and Controller

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EX-99

Exhibit 99

Fred Halvin

Director - Investor Relations

507.437.5007

Hormel Foods Acquires Clougherty Packing Company

AUSTIN, MINN. (Dec. 30, 2004) – Hormel Foods Corporation (NYSE: HRL) today announced that the company has acquired, for the purchase price of approximately $186 million, all of the stock of Clougherty Packing Company (Clougherty), a privately-held Southern California pork processor and creator of the Farmer John brand of pork products popular through the Southwestern United States.

“Clougherty has built a very strong business in the Southwest, and projects sales of $420 million in 2004.  We expect it to be immediately accretive to our Refrigerated Foods business segment,” said Joel W. Johnson, chairman of the board and chief executive officer.

“This transaction helps strengthen our presence in the Southwest, and is a great strategic fit for Hormel Foods,” Johnson added.  “The Farmer John brand enjoys the top market position in Southern California in bacon, breakfast sausage and sliced hams, and has very strong positions in hot dogs, fully cooked bacon and spiral sliced hams.  Various Farmer John brand products also lend themselves to incremental sales through Hormel Foods’ foodservice channels.

“The Farmer John brand has a broad consumer franchise in the Southwest, including a strong following with Hispanic consumers.  This makes Farmer John a valuable addition to Hormel Foods’ existing Herdez, Doña María and Búfalo product families,” Johnson said.

Clougherty operates a facility in Vernon, Calif., which should increase Hormel Foods’ production of further-processed foods to meet our growing demand.

About Hormel Foods Corporation

Hormel Foods Corporation, 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.  The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring quality, value-added brands to the global marketplace.  The company enjoys a strong reputation among consumers, retail grocers, and foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value.  For more information, visit www.hormel.com.

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Forward-Looking Statements

This news release contains forward-looking information based on management’s current views and assumptions.  Actual events may differ.  Please refer to the Cautionary Statement Relevant to Forward-Looking Statements and Information that appears on Exhibit 99.1 of the company’s Annual Report on Form 10-K for the fiscal year ended October 25, 2003, which can be accessed at http://www.hormel.com

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