Hormel, a Minnesota based food manufacturer that is best known for its SPAM product is buying the Skippy Brand peanut butter from Unilever for $700 Million. Skippy is the #2 peanut butter brand in America after Jif. Unilever ( a Dutch corporation) is offloading US brands to focus more on international markets.
Hormel may be famous for SPAM, but its product portfolio is vast and diversified. It is buying Skippy to help SPAM in China. Say What? Skippy has good penetration in China, including a manufacturing plant. The SPAM brand will no doubt leverage the infrastructure laid out by Unilever…
Reminder: Here’s what’s in SPAM (uggh):
Pork with Ham, Salt, Water, Modified Potato Starch, Sugar, Sodium Nitrite.
And here’s what’s in Skippy’s most popular peanut butter:
Roasted Peanuts, Sugar, Palm Oil, Salt.
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