Unilever Completes Skippy Sale in China
November 29
12:43
2013
Unilever has completed the sale of its Skippy business in China to Hormel Foods. This follows completion of the sale of the rest of the global Skippy business to Hormel Foods on January 31, 2013.
On January 3, the two companies announced the global deal for approximately $700 million, including the Skippy trademarks and two manufacturing facilities (in the US and China).
US-based Hormel Foods is a multinational manufacturer and marketer of consumer-branded food and meat products. The company leverages its extensive expertise, innovation and high competencies in pork and turkey processing and marketing to bring branded, value-added products to the global marketplace.
