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ACQUISITIONS AND DIVESTITURES (Tables) | 9 Months Ended
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Jul. 25, 2021
Business Combinations [Abstract] |
Schedule of Preliminary Purchase Allocation | Preliminary allocations of the purchase price to acquired assets, including goodwill and intangibles assets, is presented in the table below. The Company expects to finalize purchase allocations as soon as practicable, but no later than one year from the acquisition date.
(in thousands) | Preliminary Purchase Allocation
Inventory | $ | 149,224 |
Property, Plant and Equipment | 162,091 |
Goodwill | 2,286,932 |
Other Intangibles | 798,000 |
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.
| Thirteen Weeks Ended |  | Thirty-Nine Weeks Ended
(in thousands) | July 25, 2021 |  | July 26, 2020 |  | July 25, 2021 |  | July 26, 2020
Pro Forma Net Sales | $ | 2,981,630 |  |  | $ | 2,635,561 |  |  | $ | 8,606,935 |  |  | $ | 7,983,636 |
Pro Forma Net Earnings Attributable to Hormel Foods Corporation | 215,983 |  |  | 211,135 |  |  | 704,143 |  |  | 664,304 |

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