Hormel Foods Corporation had recently come up with its announcement regarding the closure of its acquisition of the Planters snacking portfolio from The Kraft Heinz Company.
The acquisition includes the Planters, NUT-rition, Planters Cheez Balls and Corn Nuts brands, including three production facilities.
Jim Snee, the Chairman of the Board, President and Chief Executive Officer, Hormel Foods stated- “This is an important day for Hormel Foods as we close the largest acquisition in our company’s history. As a global branded food company, we have been making a purposeful and strategic shift in our portfolio of brands and products, which includes enhancing our snacking offerings. The Planters snacking business is an important cornerstone to this strategy, and now joins our leading brands such as SKIPPY, SPAM, Hormel Natural Choice, Applegate, Justin’s, Columbus and Wholly Guacamole. The Planters snacking business will now have the world-class resources of Hormel Foods marketing, innovation and robust sales organization behind it to drive further growth. We welcome the Planters team members to the Hormel Foods family. Together, we are going to do great things for this business.”
Hormel Foods Corporation manufactures and markets several meat and food products to retail, foodservice, deli and commercial customers in the United States and worldwide. The company operates four segments that include Grocery Products, Refrigerated Foods, Jennie-O Turkey Store and International & Other. It supplies different types of perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.