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Goldsmith Agio Helms Announces the Sale of Saag's Products, Inc. To Hormel Foods Corporation

Posted on: Wednesday, 29 November 2006, 15:01 CST

Goldsmith Agio Helms is pleased to announce the completed sale of its client, Saag's Products, Inc. ("Saag's" or the "Company"), a processor and marketer of branded, premium-quality sausages, specialty smoked meats and condiments, to Hormel Foods Corporation (NYSE:HRL) ("Hormel Foods"), a multinational manufacturer and marketer of consumer-branded meat and food products. Terms of the transaction were not disclosed.

Lars Ekstrom, a managing director with Goldsmith Agio Helms, commented, "The Saag's brand represents the highest quality in gourmet sausages and specialty meats, and the Company is well positioned to realize its bright future growth prospects. The successful conclusion of this assignment marks the 44th food transaction completed by the Goldsmith Agio Helms food team, and further enhances our position as the leading middle-market, sell-side M&A advisor to the food industry."

James Mosle, CEO of Saag's Products, commented, "We at Saag's are very excited to be joining the Hormel Foods family. We believe this transaction will enable us to continue to develop and produce fantastic products, and to simultaneously leverage the reach and strength of Hormel Foods' nationwide sales and distribution channels to further accelerate the growth of the Saag's brand."

Saag's Products, Inc. (www.saags.com), with a history tracing back to 1933, is a leading, Northern California-based processor and marketer of 150 fully-cooked pork, beef, and poultry sausages and whole-muscle smoked and sliced meats under the Saag's brand to chain and independent supermarkets, delicatessens, food service operators and food service distributors. Headquartered in San Leandro, California, Saag's has established a brand that is widely known and admired by consumers for the exceptional quality of its products, which are made using only the freshest and finest ingredients. The employees and the four key senior managers of Saag's, led by Mr. Mosle, will remain with the Company post closing.

Hormel Foods Corporation (www.hormel.com), 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. In each of the past six years, Hormel Foods was named one of "The 400 Best Big Companies in America" by Forbes magazine. The company enjoys a strong reputation among consumers, retail grocers, Foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information, visit www.hormel.com.

Goldsmith Agio Helms (www.agio.com) is one of the nation's leading independent investment banking firms providing sophisticated corporate finance advisory services to middle-market businesses. The firm's services include mergers and acquisitions, private placements of debt and equity, distressed advisory and restructuring services, valuations and fairness opinions. The firm operates internationally from its offices in Los Angeles, Minneapolis, Chicago, New York and London.

For more information about this transaction, please contact Lars Ekstrom, LEkstrom@agio.com, or Darrin Kleinman, DKleinman@agio.com, at 310.551.4111.

Source: Business Wire

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