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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Oct. 31, 2021
Merger, Acquisitions And Dispositions [Abstract] |
Schedule of allocation of purchase price | Allocations of the purchase price to acquired assets, including goodwill and intangibles assets, are presented in the table below.
(in thousands) | Purchase Allocation
Inventory | $ | 149,224 |
Property, Plant and Equipment | 170,958 |
Goodwill | 2,313,064 |
Other Intangibles: |
Tradenames | 712,000 |
Customer Relationships | 51,000 |
Purchase Price | $ | 3,396,246 |
Schedule of unaudited pro forma financial information | The following unaudited pro forma financial information presents the combined results of operations as if the acquisition of the Planters® snack nuts business had occurred on October 27, 2019. These unaudited pro forma results do not necessarily reflect the actual results of operations that would have been achieved had the acquisition occurred on that date, nor are they necessarily indicative of future results of operations.
|  |  | Fiscal Year Ended
(in thousands) |  |  |  |  | October 31, 2021 |  | October 25, 2020
Pro Forma Net Sales |  |  |  |  | $ | 12,061,686 |  |  | $ | 10,657,992 |
Pro Forma Net Earnings Attributable to Hormel Foods Corporation |  |  |  |  | 985,881 |  |  | 934,783 |

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