Hormel finishes Skippy purchase

Hormel Foods Corp. has closed on its purchase of Skippy peanut butter, including its plant in Little Rock.

Hormel announced Thursday that it closed on the acquisition from Unilever United States Inc.

The transaction includes all Skippy sales worldwide except China. Hormel said it expects to close on the purchase of China-based Skippy operations by the end of the fiscal year.

Hormel, based in Austin, Minn., expects annual Skippy sales of $370 million.

Business, Pages 28 on 02/01/2013

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