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Hormel Foods Buys Planters

The company’s addition of the strategic leading brand continues its evolution as a global branded food business.

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Hormel Foods has entered into a definitive agreement with Kraft Heinz to acquire the Planters snack nut portfolio, including the Planters, NUT-rition, Planters Cheez Balls, and Corn Nuts brands, for $3.35 billion. The transaction is expected to close in the second quarter of this year, subject to regulatory review and approval.

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