Not peanuts: 'Planters acquired by Skippy family for $3.4 billion'

[SteveG]

a sad day
No truth to the rumors that this is a coverup for 'Who killed Mr. Peanut"

Planters acquired by Skippy family for $3.4 billion
https://www.nydailynews.com/news/world/n...story.html

The Planters nut-focused snack brand is set to be acquired by Hormel Foods Corporation, which owns Skippy, for a whopping $3.35 billion cash, Hormel announced Thursday.

“Planters is an iconic leading snack brand with universal consumer awareness,” Jim Snee, chairman of the board, president and CEO of Hormel Foods, said.

Formerly belonging to the Kraft Heinz Company, Planters earned around $1 billion in sales last year.

The acquisition — which will include brands Planters, NUT-rition, Planters Cheez Balls and Corn Nuts — “adds another $1 billion brand to our portfolio and significantly expands our presence in the growing snacking space,” explained Snee.

In addition to Skippy, Hormel already owns the brands Applegate, Columbus, Gatherings, Herdez, Hormel, Justin’s, Natural Choice, Spam, and Wholly.

Thanks to the deal, the company will now also acquire a trio of production facilities in Arkansas, California, and Virginia.

[Acer]

I, for one, welcome the ghost of Annette as our overlord.

[NewtonMP2100]

......epi-pen.....

[pRICE cUBE]

I hereby declare that once Mr. Peanut is turned into Skippy Peanut Butter, I formally call dibs on the monocle.

[DeusxMac]

Calling it the “Skippy family” seems to be a palliative for the actual new owner, Hormel Foods Corporation.

[MrNoBody]

I hereby declare that once Mr. Peanut is turned into Skippy Peanut
Butter, I formally call dibs on the monocle.
Nope, Hormel will just grind it up with the corpse!

dayum, more fond childhood memories* crushed by a conglomerate :oldfogey:

The history of Planters is a fascinating immigrants success story.
https://en.wikipedia.org/wiki/Planters#History

*Their stores use to be all over the highways in VA, NC, & SC
until the early '60s...

[rz]

Acer wrote:

miley-laughing001:

Not so... millions of men and teenaged boys do it regularly...

[C(-)ris]

I never understand why big conglomerates would sell something to another big conglomerate when they are in the same industry.

[Acer]

Spam now owns Planter's? Then here's a Spam Planter:

[Mactel]

That's just nuts!