Published: January 03, 2013
Press Release
Unilever Agrees to Sell Global Skippy Business to Hormel Foods
ENGLEWOOD CLIFFS, N.J. - (BUSINESS WIRE) - Unilever today announced that it has signed a definitive agreement for
the sale of its global Skippy business to Hormel Foods for a total cash
consideration of approximately $700 million.
The transaction includes Unilever's Skippy manufacturing facilities in
Little Rock, Ark., and Weifang, China (located in the Shandong province).
Kees Kruythoff, president of Unilever North America, said: "Skippy is an
iconic brand with presence all around the world. As we continue to
sharpen our portfolio to deliver sustainable growth for Unilever, we
believe that the potential of the Skippy brand can now be more fully
realized with Hormel Foods."
To read the complete release at NewsBlaze,
Unilever Agrees to Sell Global Skippy Business to Hormel Foods,
Click here
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