Hormel Foods Corp. today announced the closing of its $3.35 billion acquisition of the Planters snacking portfolio from the Kraft Heinz Co. The acquisition includes the Planters, NUT-rition, Planters Cheez Balls and Corn Nuts brands, as well as three production facilities.
"This is an important day for Hormel Foods as we close the largest acquisition in our company's history,” said Hormel chairman, president and chief executive Jim Snee. “As a global branded food company, we have been making a purposeful and strategic shift in our portfolio of brands and products, which includes enhancing our snacking offerings.
Planters joins such leading Hormel brands as Skippy, Spam, Hormel Natural Choice, Applegate, Justin's, Columbus and Wholly Guacamole.
Hormel Foods Corp., based in Austin, MN, is a global branded food company with over $9 billion in annual revenue.