Hormel Foods to acquire Skippy peanut butter from Unilever

Unilever has struck a deal to sell its Skippy peanut butter business to Hormel Foods for approximate…

Unilever has struck a deal to sell its Skippy peanut butter business to Hormel Foods for approximately $700m.

The transaction includes factories in Little Rock, Arkansas, and Weifang, China, and is expected to close early in fiscal 2013 (in the US) and by the end of fiscal 2013 (in China), subject to regulatory approvals.