Hormel Foods Corp., Austin, MN, has agreed to acquire the Planters snack nut business from Kraft Heinz Co. for $3.35 billion. The new acquisition means that Hormel would own Planters, Skippy, and Justin’s nut-related brands. In addition, the acquisition includes the Cheez Balls, Corn Nuts, and NUT-Trition brands. According to Hormel, the Planters acquisition and others in recent years are part of the company’s strategy to increase its presence in the snack foods arena. The deal is expected to be completed in the second quarter of 2021 and includes production facilities in California, Arkansas, and Virginia.
Hormel Foods is a global branded food company with more than 40 brands and sales in 75 countries. 4-21