Why Kraft Heinz Sold Planters Peanuts

Kraft Heinz has agreed to sell its nuts business, which includes most Planters and Corn Nuts products, to Hormel Foods, the Minnesota-based maker of Spam and Skippy peanut butter, for $ 3.35 billion in cash. Both parties expect the deal to close in the first half of 2021. “This is another momentous step in our rapid…
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