Unilever Unloads Skippy In $700M Deal With Hormel

Law360, New York (January 3, 2013, 6:06 PM EST) -- Unilever United States Inc., the New Jersey-based arm of European consumer goods giant Unilever PLC, announced Thursday that it has inked a $700 million deal that will send its popular Skippy peanut butter brand to canned ham king Hormel Foods Corp.

The cash deal gives Minnesota-headquartered Hormel, maker of Spam meat products, control of a leading brand in the $2 billion worldwide peanut butter business, according to parallel statements from the parties. Hormel also gains Unilever’s Skippy manufacturing facilities in Little Rock, Ark., and Shandong province,...
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