Hormel Foods completed the acquisition of the Planters nut business from Kraft Heinz for $3.35bn.

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.