Hormel Foods Corp. today announced plans to acquire Barron, Wis.-based The Turkey Store Co. for $334 million in cash. The acquisition, the largest in the history of the company, will bring together Hormel's Jennie-O Foods turkey brand and The Turkey Store brand to create a $1.2 billion turkey company that will be double the sales of the next closest competitor, ConAgra Foods' Butterball. Hormel spent $6.1 million on measured media against Jennie-O products from January through September, according to Competitive Media Reporting, while The Turkey Store spent less than $1 million. Omnicom Group's BBDO
, Minneapolis, handles Jennie-O advertising, and Leicht-Gore, Milwaukee, handles The Turkey Store.
Copyright January 2001, Crain Communications Inc.