Reuters - Hormel Pays $700M for Skippy Peanut Butter

Hormel Foods Corp., the maker of Spam canned ham, said it will acquire the Skippy peanut butter business from Unilever Plc for about $700 million, Reuters reported. The company said it expects the deal to modestly add to its fiscal 2013 results.

DealsNorth AmericaUSBriefs