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Hormel Foods stuck on Skippy Peanut Butter
AUSTIN, Minn. — Hormel Foods will acquire the iconic peanut butter brand Skippy from Unilever for approximately $700 million.
Hormel, known for its chili, ham and pork products, looks to balance its portfolio with the non-meat protein product. With peanut butter in a $2 billion category with a 74% household penetration, as well as the second most popular sandwich behind ham in the United States, Hormel will be in a good spot to grow its domestic and global brand presence.
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Hillshire Brands names new SVP, corporate strategy & development
CHICAGO — The Hillshire Brands has appointed former Kraft executive Brian Davison as SVP of corporate strategy and development.
Davison will be responsible for acquisition, merger and divestiture activities, strategic planning and implementing high impact projects. He joined the company on January 2, and will report to Sean Connolly, CEO.