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Thursday, January 3, 2013

Charter schools UPDATE: Hormel Foods buys Skippy Peanut Butter for $700 million

Posted by Max Brantley on Thu, Jan 3, 2013 at 9:14 AM

NEW OWNER: Hormel, famous for its Spam, plans to acquire famous peanut butter brand made in Little Rock.

Bloomberg reports Hormel's acquisition of Skippy Peanut Butter, which has one of two production facilities major in Little Rock, from Unilever for $700 million.

Unclear at this moment on impact on Little Rock. Skippy was made at two plants, Little Rock and in China. Hormel said it was making the acquisition to expand its own business in China.

Hormel news release doesn't specifically mention plans for Little Rock if the deal receives regulatory approval.

The plant is in the Little Rock Port Industrial Park. I toured it once many years ago for a feature for the Arkansas Gazette: "When it comes to peanut butter, Little Rock spreads it on thick." The warm smell of roasting peanuts is my main memory.

UPDATE: This just in from Hormel (as well as this fact sheet):

"Hormel Foods intends to maintain current operations at the plant in Little Rock and welcomes the employees there to the Hormel Foods team."

Tags: Skippy Peanut Butter, Hormel, Unilever

        
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Thursday, January 3, 2013

Charter schools UPDATE: Hormel Foods buys Skippy Peanut Butter for $700 million

Posted by Max Brantley on Thu, Jan 3, 2013 at 9:14 AM

Comments (10)

More by Max Brantley

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Re: Must read: Roy Reed's obituary on Orval Faubus' sister

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Politico reports that the gun control group backed by New York Mayor Michael Bloomberg is following through with plans to buy TV time — $350,000 worth — criticizing U.S. Sen. Mark Pryor for helping defeat some modest gun measures recently, particularly universal background checks.

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