Hormel Foods said Thursday that it would sell its Fremont pork processing plant.
The plant has employed about 1,500 people in recent years. The company said in a statement that its workforce “will remain in place” after the sale to WholeStone Farms, a company owned by 220 farmers and other ag producers.
The terms of the sale weren’t disclosed. It’s expected to be complete in December.
Hormel purchased the Fremont plant in 1947. There, it makes the company’s most famous product, Spam, along with Little Sizzlers sausages and other items.
“The Fremont facility has been an important part of our company for decades, and we are certainly pleased to have found a home for this team and facility with WholeStone Farms,” Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods, said in a statement.
Under a “multi-year” agreement between WholeStone and Hormel, the Fremont facility will continue to provide Hormel with pork, according to the statement.
Luke Minion, chairman of the board of WholeStone Farms, said the company was “committed to significant additional investments” in the Fremont facility.