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February 1, 2013

Unilever has mostly completed its sale of the Skippy peanut butter brand to Hormel Foods, the company said.

ENGLEWOOD CLIFFS, N.J. — Unilever has mostly completed its sale of the Skippy peanut butter brand to Hormel Foods, the company said Friday.

The conglomerate said it had completed the $700 million sale of the global business, except for China, where it remains subject to regulatory approval and is expected to close later this year.

The two companies announced the deal on Jan. 3, including the brand's trademarks and two factories, in the United States and China.

January 4, 2013

Hormel Foods announced it has entered into a definitive agreement to acquire the Skippy peanut butter business from Unilever United States, of Englewood Cliffs, N.J.

AUSTIN, Minn. — Hormel Foods announced it has entered into a definitive agreement to acquire the Skippy peanut butter business from Unilever United States, of Englewood Cliffs, N.J.

The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the United States and other jurisdictions.