Hormel Foods Announces Free College Tuition for Team Members

Company expands leading programs to help eligible team members gain access to several debt-free education opportunities

AUSTIN, Minn., July 20, 2023 /PRNewswire/ -- Hormel Foods Corporation (NYSE:HRL) has had a longstanding commitment to education for its team members, their families and the communities where it operates. Today, the Fortune 500 global branded food company is announcing a new opportunity open to eligible team members in the United States to earn their degree or complete non-degree programs for free.

Hormel Foods is partnering with Workforce Edge, a complete employee education management platform powered by Strategic Education, Inc., on this benefits expansion. This program is part of the extensive educational benefits offered to team members, including its already successful tuition reimbursement program, which has allowed thousands of Hormel Foods team members in the United States to continue their education after joining the company.

This new program, which is open to all full-time Hormel Foods team members in the United States, provides team members the opportunity to receive a company-funded associates, bachelor's and master's degree with Capella University and Strayer University, as well as discounts on tuition at hundreds of well-known colleges and universities throughout the United States. The program offers a wide variety of educational opportunities in various fields of study including science, technology, engineering, math, business, fine and liberal arts, psychology, criminal justice and legal, including bachelor's, master's and doctoral programs. The program also includes access to 50 + general education-level courses through Sophia Learning, which are ACE recommended for college credit and are designed to be transferred to many colleges and universities.

"Hormel Foods has long supported education as an important investment in our people," said Katie Larson, senior vice president of human resources at Hormel Foods. "Our team members are the most important part of our company, and we are excited to be able to offer them even greater access to education. It's an opportunity for us to continue to make a real difference and further invest in the lives and careers of our people."

In addition to this program, Hormel Foods was one of the first major companies to offer the opportunity of free college education to the dependent children of its team members. Through the Inspired Pathways program, the company provides community-college tuition while also furnishing free one-on-one college advising, financial aid support and career development opportunities. More than 1,200 students have utilized these benefits since the program's inception in August 2020.

"Workforce Edge continues to be the education benefits administration platform of choice for many premier companies looking to gain a competitive edge by providing options for career mobility to their workforces," said Karl McDonnell, CEO of Strategic Education. "We are excited to begin our partnership with Hormel Foods and look forward to seeing the progress of its talented employees."

This program with no-cost degree opportunities and expanded tuition reimbursement is just one in an extended list of benefits that Hormel Foods offers its valued team members. The company has a long-standing reputation as one of the most successful food companies in the world and has received numerous honors and accolades for its integrity, philanthropy and other aspects of social responsibility. Recently, it was named one of the Best Companies to Work For in America by U.S. News & World Report, one of the World's Most Admired Companies by Fortune, one of America's Most Responsible Companies for a fourth consecutive year by Newsweek, one of the World's Top Female-Friendly Companies by Forbes and one of America's Most Trustworthy Companies by Newsweek for the second straight year.

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $12 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters^®, Skippy^®, SPAM^®, Hormel^® Natural Choice^®, Applegate^®, Justin's^®, Wholly^®, Hormel^® Black Label^®, Columbus^®, Jennie-O^® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three years, is one of Fortune magazine's most admired companies, has appeared on the "100 Best Corporate Citizens" list by 3BL Media 13 times, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/.

About Strategic Education, Inc.

Strategic Education, Inc. (NASDAQ:STRA) (www.strategiceducation.com) is dedicated to helping advance economic mobility through higher education. We primarily serve working adult students globally through our core focus areas: 1) U.S. Higher Education, including Strayer University and Capella University, each institutionally accredited, and collectively offer flexible and affordable associate, bachelor's, master's, and doctoral programs including the Jack Welch Management Institute at Strayer University, and non-degree web and mobile application development courses through Strayer University's Hackbright Academy and Devmountain; 2) Education Technology Services, developing and maintaining relationships with employers to build education benefits programs providing employees access to affordable and industry-relevant training, certificate, and degree programs, including through Workforce Edge, a full-service education benefits administration solution for employers, and Sophia Learning, enabling education benefits programs through low-cost online general education-level courses that are ACE-recommended for college credit; and 3) Australia/New Zealand, comprised of Torrens University, Think Education, and Media Design School that collectively offer certificate and degree programs in Australia and New Zealand. This portfolio of high quality, innovative, relevant, and affordable programs and institutions helps our students prepare for success in today's workforce and find a path to bettering their lives.

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SOURCE Hormel Foods Corporation