AUSTIN, Minn. — Hormel Foods Corp. has entered into a definitive agreement to acquire the Skippy peanut butter business from Unilever, Englewood Cliffs, N.J., for $700 million. The Skippy peanut butter domestic line consists of 11 varieties of shelf-stable peanut butter products. Total annual sales are expected to be about $370 million, with nearly $100 million of those sales outside the United States. "The acquisition of the Skippy peanut butter business represents a ...

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