Kraft Heinz linked to $3bn sale of Planters snack business to Hormel just-food.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from just-food.com Daily Mail and Mail on Sunday newspapers.
Planters could be sold by Kraft Heinz, report suggests
A US newspaper report suggests local food major Kraft Heinz is planning to sell its Planters snacks business to American peer Hormel Foods in a US$3bn deal.
The
Wall Street Journal, citing people familiar with the matter , reported yesterday (2 February) that a deal for the century-old brand could be announced as soon as next week.
Planters primarily sells nuts and snack mixes, with labels featuring the Mr. Peanut mascot, complete with top hat and monocle.
The disposal, if it happens, would be the latest divestment from Heinz tomato ketchup and baked beans maker Kraft Heinz, which announced the sale of its natural cheese business to France s Groupe Lactalis for $3.2bn in September. That was also the month the company revealed its transformation strategy, a plan to help it grow more consistently.