We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
ACCEPT Reject
Already have an account? Sign in.

 Remember Me | Forgot Your Password?
Home Manage Alerts Archive Archive About Us Register Now   Not a User? Join now

Hormel Foods Corp. Buys Planters For $3.35B

February 14, 2021: 12:00 AM EST
The Austin, Minn. food company’s acquisition of the snacking nuts firm is the largest in its 130-year history. Chicago-based Kraft Heinz’s decision to sell represents is a further attempt to shore up a struggling balance sheet. It took a nearly $17 billion write-down in the value of its brands in 2019. The Planters nuts business will bolster Hormel’s portfolio of branded high-margin products, which already includes Skippy peanut butter, Dinty Moore soup, and Justin's nut butters. But Planters snacking nuts products straddle the line between a pure commodity and a value-added product. Commodities tend to be more vulnerable to generic or store-brand competitors.
Kristen Leigh Painter, "Hormel makes its biggest deal ever, buying Planters for $3.3 billion", The (Minneapolis) Star Tribune, February 14, 2021, © Star Tribune
Domains
FOOD BUSINESS NEWS
Market Segments
News
Companies
Strategy
Savory Snacks
Geographies
Worldwide
North America
United States of America
Categories
Business News
Companies
Companies, Organizations
Deals, M&A, JVs, Licensing
Products & Brands
Home | Privacy Policy | Terms and Conditions | Contact Us Copyright © 2000-2023 Business360 Inc. All Rights Reserved
Developed by Yuri Ingultsov Software Lab.