Comment on Hormel to buy Planters from Kraft Heinz

Hormel to buy Planters from Kraft Heinz

Hormel Foods agreed to buy the Planters snack brand from Kraft Heinz for $3.35 billion in cash, expanding the Skippy peanut butter maker’s portfolio of pantry staples as the pandemic drives demand for packaged food.The transaction provides a tax benefit of about $560 million, Hormel said in a statement Thursday.The acquisition bolsters Hormel’s catalog of brands, which already includes household names such as Skippy, Spam and its eponymous deli meats.

 

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