Skip to main content

Spam maker Hormel scoops up Skippy PB for $700M

  • Author:
  • Updated:
    Original:

Austin, Minn.-based Hormel Foods Corp., the maker of Spam canned ham, is acquiring the Skippy peanut butter line from Unilever for roughly $700 million, the Associated Press reports. The deal also includes Skippy manufacturing plants in Little Rock, Ark., and Weifang, China.

Skippy, the country's No. 2 peanut butter brand, has 11 varieties of products and is sold in more than 30 other countries.

“The acquisition of the Skippy peanut butter business represents a significant opportunity for Hormel Foods. It allows us to grow our branded presence in the center of the store with a non-meat protein product and it reinforces our balanced portfolio,” Jeffrey M. Ettinger, Hormel's chairman of the board, president and chief executive officer, said in a news release. “The fast growing international line will also strengthen our global presence, and should be a useful complement to our sales strategy in China for the SPAM family of products.”

The New York Times reports this is the company's largest acquisition in more than a decade. Hormel bought the Turkey Store Company for $334.4 million in 2001.

Next Up

2019_1229_Bears_Home_0831

Ryan Poles picking Chicago creates battle of the rebuilds with Vikings

Both of the Vikings' GM finalists land in the same division looking to return to relevancy.

David Ortiz

Twins congratulate David Ortiz on HOF induction, it ends badly

Twins fans haven't forgotten the biggest mistake in franchise history.

Snowmobile tracks Any Arthur Flickr

Who left the burnt snowmobile on a frozen Minnesota lake?

There wasn't much left beyond the frame and a few other large, metal parts.

T Kline Robbinsdale City Council

Charges: Drunk council member fled police on wrong side of Hwy. 100

The complaint alleges he caused a wrong-way crash, then drove around an officer that tried to stop him.

20211010_Vikings_Lions_REG05_0560

What does the future hold for the Vikings at linebacker?

Anthony Barr is hitting free agency, and Eric Kendricks is approaching age 30

vehicle car

String of vehicle thefts in St. Paul, most left running unattended

The department is urging people not to leave their car running unattended.

kid hospital doctor

Child COVID hospitalizations reach pandemic-high in northern MN

As omicron surges, more kids are ending up in the hospital.

ice fishing close unsplash

'It's disgusting': Anglers dumping sewage on to popular ice fishing lake

A local CO told Bring Me The News it's people in newer, RV-style wheel houses.

Alejandro Rios and Michael Steward

Reward offered for information on 2021 double fatal shooting in St. Paul

It's been a year since Alejandro Rios and Michael Stewart were found dead on the sidewalk.

Related