Hormel Foods Corp. (HRL) announced Thursday morning that it has entered into a definitive agreement to acquire the Skippy peanut butter business from Unilever United States Inc.
Hormel Foods expects the acquisition to be modestly accretive in fiscal 2013. Full year accretion in fiscal 2014 is expected to be between 13 and 17 cents per share.
Hormel Foods gapped up Thursday and has risen sharply in early trade. Shares are now up 1.60 at $33.61 on above average volume. The stock has surged to its second consecutive new high for the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.