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Unilever PLC Agrees to Sell Global Skippy Business to Hormel Foods


Thursday, 3 Jan 2013 07:38am EST 

Unilever PLC 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). Skippy's annual turnover is approximately $370 million. The transaction, subject to regulatory approval and customary closing conditions, is expected to close early in 2013.