date:Feb 01, 2013
British-Dutch multinational company Unilever has completed the sale of its global Skippy business to Hormel Foods, excluding its operations in China where the transaction is pending regulatory approvals.
The pending transaction is expected to be closed later this year.
On 3 January, the two companies announced the deal, for a cash consideration of approximately $700m, which includes Unilever's Skippy manufacturing facilities in Little Rock, Arkansas, US and Weifang, China.
The acquisition is