Hormel Foods and Excel Corporation, a wholly owned subsidiary of Cargill Inc., have signed a letter of intent to form a joint venture to market national brands of beef and pork under the existing Hormel Always Tender brand name.

The joint venture, named Precept Foods LLC, will combine marketing and distribution expertise for case-ready, retail product sales.

The current Hormel brand primarily includes pork. Excel will supply fresh beef and pork to provide an enhanced line of products.

For more information, visit the Hormel Foods Web site at www.hormel.com, the Cargill Web site at www.cargill.com or the Excel Web site at www.excelmeats.com.