Swander Pace exits Applegate in $775 mln deal

Swander Pace Capital said Tuesday it sold its minority stake in Applegate to Hormel Foods Corp. in a deal valued at $775 million. Applegate founder Stephen McDonnell has also transferred his stake. Bridgewater, New Jersey-based Applegate produces natural and organic hot dogs, bacon, sausages, deli meats, cheese and frozen products.

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