Recs

1

Hormel to Buy Skippy Peanut Butter for $700 Million

By | More Articles
January 3, 2013 | Comments (0)

On Thursday, Hormel Foods (NYSE: HRL  ) announced it has signed a definitive agreement to buy Unilever's (NYSE: UL  ) (NYSE: UN  ) Skippy peanut butter business, the No. 2 U.S. branded peanut butter and the No. 1 peanut butter brand in China.

In a statement, Hormel said it expects Skippy to record $370 million in annual sales, of which more than 25% come from outside the U.S. Hormel is paying $700 million for Skippy, or just under two times sales.

The company expects the acquisition to be "modestly accretive" in fiscal 2013, and to add $0.13 to $0.17 per share in fiscal 2014.

The Skippy peanut butter domestic line consists of 11 varieties of shelf-stable peanut butter products. According to Hormel, peanut butter is a $2 billion category and the second-most-popular sandwich behind ham in the United States.

link

Jeff Fischer and team have demystified options. And they can rack up income like $1,030... $2,626... and $3,228 on a schedule you can set your watch by!
That's why we're glad to announce every single one of their closely guarded strategies is available to YOU during May and June – 100% FREE, no strings attached! Just enter your email address in the box below...

Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend Unilever. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

DocumentId: 2177476, ~/Articles/ArticleHandler.aspx, 5/20/2013 3:31:33 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 days ago Sponsored by:
DOW 15,354.40 121.18 0.80%
S&P 500 1,667.47 17.00 1.03%
NASD 3,498.97 33.73 0.97%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

5/17/2013 4:05 PM
HRL $42.70 Up +0.07 +0.16%
Hormel Foods Corp CAPS Rating: ****
UN $42.16 Up +0.07 +0.17%
Unilever N.V. (ADR… CAPS Rating: ****
UL $43.22 Down -0.03 -0.07%
Unilever CAPS Rating: *****

Advertisement