Source Food Technology, Hormel Foods Join Forces

Source Food Technology, Inc. (SFTI), Research Triangle Park, NC, has formed a joint venture with Hormel Foods, Austin, MN, to develop and market omega 3 fish oils and unique combination products based on SFTI’s proprietary oil purification technology. The transaction involves the purchase of certain assets of SFTI and the contribution of intellectual property rights, including patents, to the joint venture. The new entity is called Hormel Health Technology, LLC.