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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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Unilever fights to wipe out hunger
ENGLEWOOD CLIFFS, N.J. — Unilever has donated nearly $850,000 and three million pounds of Unilever brand products to Feeding America, the nation's leading hunger-relief organization, in 2012.
The financial contribution comes from joint cause marketing programs and support from the Unilever United States Foundation.