George D. Martin and Ryan R. Miske, partners in the M&A practice at Faegre Baker Daniels LLP, are principal attorneys serving as counsel to Hormel Foods Corporation in its acquisition of the Skippy® peanut butter business, including the related manufacturing facilities in Little Rock, Ark., and Weifang, China, from Unilever United States Inc. for approximately $700 million.
The Skippy® peanut butter domestic line consists of 11 varieties of shelf-stable peanut butter products. The acquisition of the Skippy® peanut butter business will allow Hormel Foods to grow its branded presence in the center of the store with a non-meat protein product, and it reinforces Hormel Foods Corporation's balanced portfolio.
"We are very proud to partner with Hormel on their strategic business goals," said Kim Walker, leader of the firm's food and agriculture industry team and client relationship manager for Hormel.
Based in Austin, Minn., Hormel Foods Corporation is a multinational manufacturer and marketer of food and meat products for consumers worldwide.
Faegre Baker Daniels' food and agriculture industry team provides legal counsel to many of the world's leading food and agriculture companies, with more than 150 attorneys dedicated to serving them.