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Deals

Kraft Heinz to sell nuts business to Hormel for $3.35 billion

FILE PHOTO: Shareholders shop for discounted products at the Kraft Heinz booth at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan/File Photo

(Reuters) - Kraft Heinz Co said on Thursday it was selling its nut business to packaged food peer Hormel Foods Corp for $3.35 billion in cash.

The transaction includes most products sold under the Planters brand, including single variety and mixed nuts, trail mix, Nut-rition products, Cheez Balls, and Cheez Curls, as well as Corn Nuts branded products.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur

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