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Hormel Foods appoints new VP of grocery to lead Planters acquisition deal

Hormel Foods appoints new VP of grocery to lead Planters acquisition deal
bakeryandsnacks.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bakeryandsnacks.com Daily Mail and Mail on Sunday newspapers.

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Hormel Foods Agrees to Buy Kraft Heinz Nuts Business

Hormel Foods Agrees to BuyÂ Kraft Heinz Nuts Business
CHICAGO â The Kraft Heinz Co. s nuts business is changing hands. The company entered into a definitive agreement to sell its nuts business to Hormel Foods Corp. in a cash transaction for $3.35 billion.
The dealÂ includes most products sold under theÂ PlantersÂ brand, including single variety and mixed nuts, trail mix,Â Nut-rition products,Â Cheez Balls, andÂ Cheez Curls, as well asÂ Corn NutsÂ branded products, in addition to global intellectual property rights to theÂ PlantersÂ brand, subject to existing third-party licenses in certain international jurisdictions, and to theÂ Corn NutsÂ brand. ....

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Hormel Foods appoints new VP of grocery to lead Planters acquisition deal

Hormel Foods appoints new VP of grocery to lead Planters acquisition deal
Hormel Foods Corporation has added appointed a new VP of grocery products to lead the integration of Planters and Corn Nuts into its brand portfolio.
The company appointed Jeff Frank, who currently serves as VP marketing for Hormel Foods foodservice business, as VP of it grocery products. In his new role, Frank will lead the strategic integration of the Planters and Corn Nuts brands into the Hormel Foods business, which is expected to be completed by summer 2021.
Earlier this month,
Kraft Heinz announced the sale of its nuts business (which includes most products sold under the Planters brand including single variety, mixed nuts, trail mix, Nut-rition products, Cheez Balls, Cheez Curls, and Corn Nuts branded products) to Hormel for $3.35bn. ....

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Hormel Foods acquires Planters for $3.35 billion after Kraft Heinz agreed to the sale

Planters have been acquired by Hormel Food Corporation for $3.35 billion, which is the 130-year-old company’s largest purchase in its history. Hormel continues to buy smaller food brands, and Planters is probably the most well-known from the list of its acquisitions.
The deal between Hormel and Kraft Heinz
Planters is one of the most recognizable brands in the world, and it will not be owned by Hormel Foods. The purchase came to be after Kraft Heinz, which owns Planters, agreed to sell its nuts and snack business brand as the company in an effort to cope with the struggles of keeping the business afloat after being hit by the pandemic-related losses. ....

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City snapshot: Symington's hires advisors as it eyes £100m sale | News

Top story
Chicken Tonight owner Symington’s has hired advisors to explore sale options as the ambient food group has capitalised on increased consumer demand under Covid lockdowns that have amplified the effects of a successful turnaround.
Private equity owner ICG, which has backed the business since a £72m buyout in 2012, has appointed investment bank Houlihan Lokey to seek a potential exit, according to City sources.
The sale process is still at a very early stage, but interest from PE firms is expected to be solid, with a valuation between £80m and £100m, dealmaker sources said.
Kettle owner Valeo was highlighted as a natural buyer, while a resurgent Premier would likely be constrained by competition issues. ....

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