Hormel Foods to acquire Kraft Heinz's nut business

摘要

Hormel Foods is acquiring Kraft Heinz's Planters nut business for $3.35 billion in cash. The proposed deal is subject to regulatory approval and expected to close in the first half of 2021.The transaction includes most products sold under the Planters brand, like mixed nuts, trail mix, Nut-trition products, Cheez Balls, Cheez Curls and Corn Nuts branded products. The agreement also includes global intellectual property rights to the Planters brand.Manufacturing facilities in Fresno,Calif.; Fort Smith, Ark.; and Suffolk, Va., also will be part of the transaction.