- Bank With Citibank? You’re About to Pay a Lot More
- FTC: ‘Free’ Products Aren’t Free
- Apple Pay Begins: What You Need to Know
- Liar Labels: Is That Farmers Market Food Really Local?
- HBO Without Cable: It’s Planning a Stand-Alone Service
- What’s In McDonald’s Chicken McNuggets? Now You Can Find Out
- LA Restaurants Charging 3 Percent to Cover Employee Health Care
- What Your Tattoo Says About You – And Your Job Prospects
The Associate Press reports…
Skippy, which was introduced in 1932 and is a staple in American pantries, is intended to increase Hormel’s presence in the center of the supermarket where nonperishable foods are sold. It also gives the Austin, Minn.-based company a stronger footing in international markets. Skippy is sold in about 30 countries and is the leading peanut butter brand in China, where Hormel has been trying to build up its Spam business for the past several years.
This is Hormel’s biggest-ever acquisition, and the reason is it wants to sell Spam to China and be in a different part of grocery stores? Well, I guess when you’re a huge food brand (worth $8 billion, according to CEO Jeffrey Ettinger) you can do what you want. Unless you’re Hostess.