Meat + Poultry - July 2008 - 68

(Photos courtesy of Lloyd's Food Products)

Low-and-slow success
Lloyd's Barbeque products are
still smokin' after 30 years
By Joel Crews
jcrews@sosland.com

B

ack when Lloyd Sigel began
selling smoked pork ribs in
1978, after partnering with
the owner of a local meat company
the year prior, he likely had no idea
how popular the retail barbecue
niche would become. Indeed, when
Sigel's company, Lloyd's Food Products Inc., was eventually purchased
by Pittsburgh, Pa.-based Main Street
Capital Holdings in 1997, who would
have thought that its sales would top
$90 million before becoming the acquisition target of General Mills Corp.
in 1999. A few years later, Lloyd's
68

I

MEAT&POULTRY

I

July 2008

I

Barbeque Co. again changed hands,
this time to Hormel Foods Corp., in
early 2005.
At the time, Joel Johnson, who was
then CEO and chairman of the board,
said the barbecue-based acquisition
was a logical addition as the company focused on convenience foods.
He accurately predicted growth opportunities and margin improvement
for the brand thanks to Hormel's established distribution system and obvious access to meat supplies.
"Lloyd's brands have earned strong
market share in the retail refrigerat-

www.MEATPOULTRY.com

ed entrée category - a business that
Hormel Foods knows well," Johnson
said after the acquisition. "We believe Lloyd's will continue to flourish as part of our roster of refrigerated products."
Since then, Lloyd Sigel's namesake brand has played a key role in
the growth of Hormel's refrigerated
foods business, a segment that in its
2008 second-fiscal quarter represented 52 percent of the company's net
sales of approximately $1.6 billion.
The segment also includes Hormel's
SPAM, Compleats, Natural Choice


http://www.MEATPOULTRY.com

Meat + Poultry - July 2008

Table of Contents for the Digital Edition of Meat + Poultry - July 2008

Contents
Meat + Poultry - July 2008 - 1
Meat + Poultry - July 2008 - 2
Meat + Poultry - July 2008 - 3
Meat + Poultry - July 2008 - Contents
Meat + Poultry - July 2008 - 5
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