The makers of Spam are buying another peanut butter company.
The purchase is part of Hormel's goal to add more products that appeal to changing consumer tastes, specifically the "younger, on-the-go and more health-conscious consumers,” Jeffrey Ettinger, Hormel's CEO, said in the release.
There's no word on if the brands will team up to make bacon-flavored peanut butter, but Justin Gold, the founder of Justin's, assured fans that Hormel doesn't "want to change a thing" about the nut butter.
The deal is worth $286 million, the Austin Daily Herald reports, noting it is subject to closing procedures.
Justin's will still operate out of its office in Boulder, Colorado, as a subsidiary of Hormel's Grocery Products segment, the release says.