M&A Deal Summary

Hormel Foods Acquires Skippy Peanut Butter Business

On January 2, 2013, Hormel Foods acquired food company Skippy Peanut Butter Business for 700M USD

Acquisition Highlights
  • This is Hormel Foods’ 8th transaction in the Food sector.
  • This is Hormel Foods’ 3rd largest (disclosed) transaction.
  • This is Hormel Foods’ 8th transaction in the United States.

M&A Deal Summary
Date 2013-01-02
Target Skippy Peanut Butter Business
Sector Food
Buyer(s) Hormel Foods
Deal Type Divestiture
Deal Value 700M USD

Target

Skippy Peanut Butter Business

United States
website
The SKIPPY peanut butter domestic line consists of 11 varieties of shelf-stable peanut butter products. The brand, first introduced in 1932, holds the No. 2 share in this growing center-of-the-store category and is the leading brand in the faster growing subcategory of natural peanut butter.

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Buyer(S) 1

Buyer

Hormel Foods

Austin, Minnesota, United States

website

Category Company
Founded 1891
Sector Food
Employees20,000
Revenue 12.5B USD (2022)
DESCRIPTION
Entrance to Hormel Foods' corporate headquarters in Austin, Minnesota.
Entrance to Hormel Foods' corporate headquarters in Austin, Minnesota.

Hormel Foods is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. Hormel Foods was formed in 1891 and is based in Austin, Minnesota.

DEAL STATS #
Overall 8 of 17
Sector (Food) 8 of 17
Type (Divestiture) 4 of 6
Country (United States) 8 of 15
Year (2013) 1 of 1
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-18 Country Crock Chilled Side Dish Line

Englewood Cliffs, New Jersey, United States

The Country Crock chilled side dish line consists of 10 varieties of refrigerated, microwaveable, multi-portion, potato-/pasta-based side dish products. The line, first introduced in 2004, is a strong player in the refrigerated side dish segment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-30 CytoSport

Benicia, California, United States

CytoSport, Inc. is a manufacturer of muscle milk products and developer and marketer of premium sports nutrition products.

Buy $450M
Mergr

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