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Thursday, January 3, 2013

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

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

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

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