Kraft Heinz is giving up Planters and selling it to Hormel
Photo by: Ivan Radic/Flickr (CC BY 2.0) Thursday, February 4, 2021 10:41 AM UTC
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Kraft Heinz Co. is reportedly close to sealing a deal with Hormel Foods Corp in connection with the sale of its Planters snack business. It was said that if nothing goes wrong, the transaction may be completed as early as next week.
The possible acquisition of Planters
As per Fox Business, the deal between Kraft Heinz Co. and Hormel Foods Corp is valued at around $3 billion. The sale may be formally be announced by the next week if both companies will reach an agreement and talks will not fall apart.