Hormel Buys Skippy Brand

You probably wouldn’t put peanut butter on your pepperoni, but the brand’s apparently worth $700 million to its new owner.

Read These Next

Better Investing

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.

Sign up for our free newsletter

Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash. It doesn't cost a dime, so why wait? Click here to sign up now.

Read These Next

Comments

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,641 more deals!