HRL: Material agreement · Company disclosure

Item 1.01 Entry into a Material Definitive Agreement . On September 29, 2026, Hormel Foods Corporation (the “Company”) entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Brakebush Holdings, Inc. (“Seller”) and Brakebush Brothers, LLC (“Brakebush”), pursuant to which the Company has agreed to acquire from Seller all of the outstanding membership interests of Brakebush. The purchase price consists of a base purchase price of $1.055 billion in cash, subject to customary adjustments. The closing of the acquisition is expected to be completed during the first quarter of the Company’s 2027 fiscal year and is subject to customary closing conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other applicable antitrust laws, the absence of any law or order prohibiting the transaction, and the satisfaction of customary conditions relating to the parties’ representations, warranties, and covenants. The Purchase Agreement contains customary termination rights for the Company and Seller, including if the transaction has not been completed by March 29, 2027, subject to an automatic three-month extension in specified circumstances relating to outstanding regulatory approvals. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 7.01 Regulation FD Disclosure . On September 30, 2026, the Company issued a press release announcing the entry into the Purchase Agreement. A copy of the press release is furnished as Exhibit 99.