M&A Deal Summary

Hormel Foods Acquires Planters

On February 11, 2021, Hormel Foods acquired food company Planters from Kraft-Heinz for 3.4B USD

Acquisition Highlights
  • This is Hormel Foods’ 16th transaction in the Food sector.
  • This is Hormel Foods’ largest (disclosed) transaction.
  • This is Hormel Foods’ 15th transaction in the United States.
  • This is Hormel Foods’ 1st transaction in Illinois.

M&A Deal Summary
Date 2021-02-11
Target Planters
Sector Food
Buyer(s) Hormel Foods
Sellers(s) Kraft-Heinz
Deal Type Divestiture
Deal Value 3.4B USD

Target

Planters

Glenview, Illinois, United States
website
The Planters snack nut portfolio includes the Planters, NUT-rition, Planters Cheez Balls and Corn Nuts brands. Planters dates back to 1916 and is headquartered in the state of Illinois.

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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 16 of 17
Sector (Food) 16 of 17
Type (Divestiture) 6 of 6
State (Illinois) 1 of 1
Country (United States) 15 of 15
Year (2021) 1 of 1
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-20 Sadler’s Smokehouse

Henderson, Texas, United States

Sadler’s Smokehouse is a family-owned business that specializes in premium and authentic pit-smoked meats for retail and foodservice customers. Sadler’s Smokehouse is based in Henderson, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-15 GarudaFood

South Jakarta, Indonesia

GarudaFood is a seller of branded consumer food products. The company has four main product categories: biscuits, snacks, instant beverages and chocolate confectionery which it produces across its five production facilities.

Buy -

Seller(S) 1

SELLER

Kraft-Heinz

Pittsburgh, Pennsylvania, United States

website

Category Company
Founded 1869
Sector Food
Employees32,200
Revenue 11.6B USD (2012)
DESCRIPTION
Heinz headquarters at One PPG Place in downtown Pittsburgh, Pennsylvania.
Heinz headquarters at One PPG Place in downtown Pittsburgh, Pennsylvania.

Kraft-Heinz, Inc. is a US-based condiments and food processing company based in Pittsburgh, Pennsylvania. The company was formed in 1869 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 8 of 8
Sector (Food) 7 of 7
Type (Divestiture) 7 of 7
State (Illinois) 2 of 2
Country (United States) 6 of 6
Year (2021) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 Primal Nutrition

Oxnard, California, United States

Primal Nutrition LLC is a maker of Primal Kitchen branded products. Primal Kitchen is a young, vibrant, better-for-you brand primarily focused on Condiments, Sauces and Dressings including Mayonnaise, Salad Dressings, and Avocado Oil, with growing product lines in Healthy Snacks and other categories.

Buy $200M
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