Hormel Foods acquired the Skippy® peanut butter business, including the related manufacturing facilities in Little Rock, Arkansas, and Weifang, China, from Unilever United States Inc. for approximately $700 million. Faegre Baker Daniels represented Hormel.
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.
Based in Austin, Minnesota, Hormel Foods Corporation is a multinational manufacturer and marketer of food and meat products for consumers worldwide.