Market Overview

Hormel Foods to Acquire Skippy Peanut Butter from Unilever for $700M

Share:
Related HRL
Stocks On The Rise As Markets Shake Off Tech, Tariff Woes Ahead Of Fri. Jobs Report
28 Stocks Moving In Monday's Pre-Market Session
10 Dividend Growth Stocks For April 2018 (Seeking Alpha)
Related UL
27 Stocks Moving In Thursday's Pre-Market Session
Wall Street's M&A Chatter From November 27: Time, Barracuda, Unilever, Jumei
Unilever Plc 2018 Q1 - Results - Earnings Call Slides (Seeking Alpha)

Hormel Foods Corporation (NYSE: HRL) today announced it has entered into
a definitive agreement to acquire the Skippy®
peanut butter business from Unilever United States Inc., of Englewood
Cliffs, N.J. The transaction is subject to customary closing conditions,
including the receipt of regulatory approvals in the United States and
other jurisdictions.

The Skippy® peanut butter domestic line
consists of 11 varieties of shelf-stable peanut butter products. The
brand, first introduced in 1932, holds the No. 2 share in this growing
center of the store category and is the leading brand in the faster
growing subcategory of natural peanut butter. Peanut butter is a $2
billion category with a 74 percent household penetration and is the

See full press release

Posted-In: News Guidance Contracts M&A

 

Related Articles (HRL + UL)

View Comments and Join the Discussion!