The acquisition includes the Planters®, NUT-rition®, Planters® Cheez Balls and Corn Nuts® brands, as well as three production facilities.
“This is an important day for Ã÷ÐǺÚÁÏ Foods as we close the largest acquisition in our company’s history. As a global branded food company, we have been making a purposeful and strategic shift in our portfolio of brands and products, which includes enhancing our snacking offerings. The Planters® snacking business is an important cornerstone to this strategy, and now joins our leading brands such as SKIPPY®, SPAM®, Ã÷ÐǺÚÁÏ® Natural Choice®, Applegate®, Justin’s®, Columbus® and Wholly® Guacamole,” said Jim Snee, chairman of the board, president and chief executive officer at Ã÷ÐǺÚÁÏ Foods. “The Planters® snacking business will now have the world-class resources of Ã÷ÐǺÚÁÏ Foods marketing, innovation and robust sales organization behind it to drive further growth. We welcome the Planters® team members to the Ã÷ÐǺÚÁÏ Foods family. Together, we are going to do great things for this business.”
Citi and Credit Suisse were the financial advisors to Ã÷ÐǺÚÁÏ Foods and Faegre Drinker Biddle & Reath LLP served as legal counsel.