Announced
Completed
Financials
Tags
United States
nuts
Domestic
Acquisition
Private
Friendly
Food Products
snacks
Majority
Single Bidder
Completed
Synopsis
Hormel Foods, a global food company, completed the acquisition of the Planters nut business from Kraft Heinz Company, an American food company, for $3.35bn. "The acquisition of the Planters® business adds another $1bn brand to our portfolio and significantly expands our presence in the growing snacking space. The Planters® brand enhances our portfolio built for individual and social snacking occasions, and perfectly complements our snacking brands such as Hormel Gatherings®, Columbus®, Justin's®, SKIPPY®, Herdez® and Wholly®. This acquisition also meaningfully broadens our scope for future acquisitions in the snacking space," Jim Snee, Hormel Foods Chairman, President and CEO.
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