A cross-office Faegre Drinker team represented Hormel Foods Corporation in acquiring a 30% stake in publicly-traded PT Garudafood Putra Putri Jaya Tbk, one of the largest food and beverage companies in Indonesia.
In a transaction that closed December 15, 2022, Hormel purchased shares in Garudafood from private equity firm CVC and various founding shareholders. The investment aims to increase Hormel's presence in Indonesia and South Asia, while expanding its range of product offerings.
