JLL Assists Global Food Industry Leader Hormel Foods with Largest Overseas Factory Investment Project Outside U.S.
Hormel Foods's largest overseas factory investment outside the United States.
As a global leader in the food industry, Hormel Foods has developed rapidly in the Chinese market and needed to build large new factories in East China to better meet the needs of its growing business. This process involved regional research and analysis for project site selection, as well as coordination with the relevant government departments.
As the sole consultant of Hormel Foods, the JLL Industrial and Logistics team held comprehensive discussions with its client to gain a deeper understanding of their needs. JLL's extensive experience in assisting multinational companies in China to find suitable locations and communicate with the relevant government agencies ultimately allowed it to successfully assist Hormel Foods. It did this by providing high-quality preliminary research, site selection analysis, and negotiation assistance and advice. Hormel Foods eventually settled in the National Jiaxing Economic and Technological Development Zone, where it purchased nearly 120,000 square meters of industrial land for the construction of new factories. With registered capital in Hormel Foods’ Jiaxing Project Company of nearly US$200 million, this became its largest overseas factory investment outside the United States.
The head of the Hormel Foods project said, “We are very grateful to the JLL Industrial and Logistics team for their professional performance throughout the site selection and transaction process. The team had great knowledge of the industry, and in addition to providing us with extensive professional industry analysis, they also provided highly effective and accurate advice during the negotiation process with the park."