Skippy brand put up for sale

by Jeff Gelski
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ENGLEWOOD CLIFFS, N.J. – Unilever may sell its Skippy peanut butter brand.

“As part of a recently completed strategic review, we have decided to explore various options for our Skippy business in the U.S. and Canada, including, but not limited to, a potential sale of the business,” the company said in an Oct. 4 statement. “The ultimate objective will be to identify the best way forward for Skippy’s continued growth and profitability and for it to remain an iconic, consumer-loved brand.”

According to a Bloomberg report, the Skippy brand may fetch $300 million to $400 million.

Unilever in August completed the sale of its North American frozen meals business, which is conducted under the Bertolli and P.F. Chang’s brand names, to Omaha-based ConAgra Foods, Inc. for $267 million.

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