Hormel Foods is in the late-stage talks to acquire Applegate Farms, a producer of organic hot dogs, bacon and sausages.
This comes after the company acquired Muscle Milk maker CytoSport Holdings in August last year.
The proposed deal could value the bacon producer at between $600m and $1bn, Reuters reported citing sources.
As reported previously in The Wall Street Journal, Applegate Farms has been put up for sale earlier this month.
Applegate Farms, along with investment bank Goldman Sachs Group, is pursuing the sale process, reported WSJ.
The acquisition, if completed, will allow Hormel Foods to enhance its protein offerings.
The plans to sell Applegate Farms follows a series of sales of other protein companies.
Hershey had acquired jerky company Krave, Post Holdings acquired food processing company Michael Foods for $2.5bn, and Tyson Foods bought packaged meats producer Hillshire Brands, in a deal worth $8.6bn.
Founded in 1987, Applegate Farms produces and delivers natural and organic hot dogs, bacon, sausages, deli meats, cheese products, and frozen products.
The company's products are available across the US through stores.
Image: Hormel Black Label bacon. Photo: courtesy of Hormel Foods Corporation.
