Unilever completes global Skippy sale outside of China
Unilever today completed the sale of its global Skippy business to Hormel Foods, excluding the portion operated out of China.
Englewood Cliffs, NJ (January 31, 2013) –Unilever today completed the sale of its global Skippy business to Hormel Foods, excluding the portion operated out of China, which remains subject to regulatory approval and is expected to close later this year.
On Jan. 3, the two companies announced the global deal for approximately $700 million, including the Skippy trademarks and two manufacturing facilities (in U.S. and China).
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About Hormel Foods:
Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace.
The company is a member of the Standard & Poor's (S&P) 500 Index, S&P Dividend Aristocrats for 2012, Maplecroft Climate Innovation Indexes, Global 1000 Sustainable Performance Leaders and was again named one of "The 100 Best Corporate Citizens” by Corporate Responsibility Magazine for the fourth year in a row. The company enjoys a strong reputation among consumers, retail grocers, foodservice and industrial customers for products highly regarded for quality, taste, nutrition, convenience and value. For more information, visit www.hormelfoods.com
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