March 10, 2014

FaegreBD Client Hormel's Acquisition of Skippy® Wins ACG-MN BOLD Award

Hormel Foods Corporation's acquisition of Skippy® peanut butter won in its category of the Minnesota chapter of the Association for Corporate Growth's (ACG-MN) BOLD Awards. Winners were announced at an event in Minneapolis on Feb. 25.

Faegre Baker Daniels represented Hormel in purchasing Skippy® from Unilever United States, Inc. to join the growing peanut butter market with a brand recognized in more than 50 countries.

The BOLD Awards honor and celebrate cutting-edge organizations and the leaders that have taken measures to positively grow, restructure, or enhance their companies for the benefit of all stakeholders. The awards honor the accomplishments of Minnesota companies, financiers, entrepreneurs and organizations that demonstrate growth in merger and acquisition activity.

The Hormel deal team worked to sign a definitive agreement within just two weeks at the end of 2012. The team, led by FaegreBD corporate partners George Martin and Ryan Miske, also bifurcated the closings to allow Hormel to purchase all Skippy® assets outside of China quickly in Jan. 2013, completing the regulatory process in China and purchasing Skippy®-related assets there in November 2013.

Hormel's acquisition of Skippy® was also recognized as a "Deal of the Year" at the 12th Annual M&A Advisor Awards in December 2013.

ACG-MN brings Minnesota's corporate leaders, bankers, investors and service professionals together to share resources and information, build relationships and grow Minnesota business. Through formal programs focusing on relevant content and informal networking forums, ACG-MN members come together for dozens of programs each year.

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