Hormel - Addition Of Skippy Sends Shares To Fresh All-Time Highs

Shares of Hormel Foods (HRL) rose 3.7% in Thursday's trading session. The diversified food manufacturer announced the acquisition of Skippy peanut butter from Unilever (UN).

The Deal

Hormel Foods announced that it has agreed to acquire the number 2 peanut butter brand of the country in a $700 million deal.

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