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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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Dollar Tree to expand Oklahoma DC
CHESAPEAKE, Va. — Dollar Tree intends to expand its 603,000-sq.-ft. distribution center in Marietta, Oklahoma by an additional 400,000 sq. ft.
The leading operator of discount variety stores in North America which sells everything for no more than $1 will create more than 100 new full-time positions as a result of the expansion.