Unilever Sells Skippy Peanut Butter Business to Hormel Foods Corp

Jan 03, 2013

Hormel Pays $700 Million to Acquire Skippy Brand Peanut Butter Business

Austin, Minnesota-based Hormel Foods Corporation has announced the acquisition of Skippy Brand Peanut Butter from British-Dutch consumer products giant Unilever. The sale of America’s number two brand of peanut butter (Jiff, produced by J.M Smucker’s is the number one selling peanut butter in the U.S.A) is the largest acquisition ever made by Hormel, known primarily for cured and smoked meats, frozen foods and of course their most famous product – Spam.

The sale will include production facilities located in Little Rock, Arkansas and Weifang, China. According to a statement made by Hormel’s chief executive Jeffery M. Ettinger “The acquisition of the Skippy peanut butter business represents a significant opportunity for Hormel Foods. It allows us to grow our branded presence in the center of the store with a nonmeat protein product and it reinforces our balanced portfolio.”

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
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More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
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Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
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