AUSTIN, MINN. — Hormel Foods Corp. announced June 7 it has completed the acquisition of the Planters snacking portfolio from the Kraft Heinz Co.
The $3.35 billion transaction includes most products sold under the Planters brand, including mixed nuts, trail mix, Nut-trition products, Cheez Balls, Cheez Curls and Corn Nuts branded products. The agreement also includes global intellectual property rights to the Planters brand and three production facilities located in Fresno, Calif.; Fort Smith, Ark.; and Suffolk, Va.
“This is an important day for Hormel Foods as we close the largest acquisition in our company’s history,” said James P. Snee, president and chief executive officer of Hormel. “As a global branded food company, we have been making a purposeful and strategic shift in our portfolio of brands and products, which includes enhancing our snacking offerings. The Planters snacking business is an important cornerstone to this strategy and now joins our leading brands such as Skippy, Spam, Hormel Natural Choice, Applegate, Justin’s, Columbus and Wholly Guacamole. The Planters snacking business will now have the world-class resources of Hormel Foods marketing, innovation and robust sales organization behind it to drive further growth. We welcome the Planters team members to the Hormel Foods family. Together, we are going to do great things for this business.”
The Planters nut snack business had sales of approximately $1.1 billion in calendar 2020.