Hormel acquires Colorado nut butter company
Hormel Foods Corporation announced it will acquire specialty nut butter company Justin’s, LLC which manufacturers four nut butter-based snack lines – spreads, squeeze packs, peanut butter cups and snack packs. According to the Denver Post, Hormel purchased the natural company for $286 million.
“Justin’s naturally delicious, high-quality nut butters, nut butter snacks and organic peanut butter cups align perfectly with our goal of complementing our existing brands with new offerings that resonate with younger, on-the-go and more health-conscious consumers,” says Jeffrey Ettinger, chairman of the board and CEO at Hormel.
Justin’s will continue operating out of its office in Boulder, CO as a subsidiary in the company’s grocery products segment.
Hormel Foods will provide further comment about this deal on the company’s second quarter earnings