Page 15 - Corn Nuts News Today

Hormel Foods is going nuts. The Austin, Minnesota-based company, known for its meat brands like Spam and Applegate, said Thursday it is buying the Planters nut business from Kraft Heinz Co. for $3.35 billion. Included in the deal are Planters brands like Nut-rition, Cheez Balls and Corn Nuts. “The acquisition of the Planters business adds […]

Hormel Foods, guided by Faegre Drinker, will pay $3.35 billion for the Planters snack nut business of Gibson Dunn-advised Kraft Heinz, the companies said Thursday, in a deal that adds to the buyer's portfolio a unit that posted 2020 net sales of about $1 billion.

Its been a chaotic few years for Mr. Peanut, who died in early 2020 and was reborn as a baby nut. Now he has a new home: Kraft is selling

Kraft Heinz has ended 2020 on a high note reporting a 6.2% increase in organic net sales and a 27% lift in household penetration in Q4, driven by significant gains in Ketchup, Lunchables, and Ore-Ida. At the beginning of 2020, Kraft Heinz embarked on its multi-year transformation supported by a new operating model and platform-based prioritization of its portfolio, which has been divided into four segments: fast fresh meals; taste elevation; easy meals made bette...

The deal, struck in cash for US$3.35bn, is part of Hormel's "evolution as a global, branded food company", the Spam owner said. related to Hormel Foods, Kraft Heinz, Snacks, M&A and joint ventures,

Kraft Heinz reported Thursday it has sold its Planters business to Hormel for USD3.35 Billion cash.

The acquisition is by far the largest by Austin, Minn.-based Hormel Foods.

The acquisition is by far the largest by Austin, Minn.-based Hormel Foods. 11:15 am, Feb. 11, 2021 × AUSTIN, Minn. — Hormel Food Corp. has scooped up the Planters business from Kraft Heinz Co. for $3.35 billion in cash. Hormel and Chicago-based Kraft announced the deal early Thursday, Feb. 11, making it the largest acquisition by Austin, Minn.-based Hormel, which expands its business line to include peanuts as well as Cheez Balls, Corn Nuts and NUT-Triton brands. The Planters busin...

Under the agreement, Kraft Heinz will sell its Corn Nuts and Planters production facilities in three states.

Kraft Heinz Co said on Thursday that it plans to sell its nuts business - including most Planters and Corn Nuts products - to Hormel Foods Corp for $3.35 billion, sending shares up 6%.