Hormel Foods Corporation, a Fortune 500 global branded food company, and Forward Consumer Partners, a private investment firm focused on branded consumer products, announced the completion of the previously announced transaction to form a new strategic partnership for the Justin’s brand.

Under the terms of the agreement, Justin’s will operate as a standalone company, owned 51% by Forward and 49% by Hormel Foods. The business includes products such as nut butters and USDA-certified organic chocolate confections.

This transaction marks a new chapter for the Justin’s brand, with the return of founder Justin Gold as a strategic advisor and member of the new partnership's board of directors, and former CEO Peter Burns, who will serve as the new company’s CEO. Burns will work alongside a seasoned leadership team and board members who bring deep expertise in building consumer brands, including:

• Hunt Killough (chief growth and strategy officer), Mark Doiron (chief sales officer), and Jeff Perkel (SVP of marketing and e-commerce) return to Justin’s, having previously served in leadership positions at the company prior to its sale to Hormel Foods in 2016.
• David Ziegert (COO) and Randy Gilbride (VP of brand and commercial strategy) join the new partnership with extensive packaged foods experience and prior collaboration with Burns.
• Val Oswalt joins the new partnership’s board of directors. Oswalt currently serves as CEO of Kodiak and is a founding member of Forward’s advisory board. She has an exceptional track record of building teams, brands, and businesses at The Campbell’s Company, Mondelēz International Inc., and more, the brand says. 

“We are thrilled to welcome the Justin’s brand into the Forward family,” remarks Matt Leeds, Forward’s managing partner. “This is a beloved brand with incredible potential, and we look forward to supporting its continued growth and success in the years ahead.”

“We are excited about the opportunity ahead for the Justin’s brand," says John Ghingo, president, Hormel Foods. "This new partnership provides the focus and resources to help the business grow and also reflects how Hormel Foods is thinking differently about unlocking growth for our brands."

Related: Justin's releases Peanut Caramel Nougat chocolate bars