January 3/Austin, Minn./Press Release -- Unilever announced plans to sell its Skippy peanut butter business to Hormel Foods Corp. for $700 million in cash.
The transaction includes Unilever's Skippy manufacturing plants in Little Rock, Ark., and Weifang, China, though in an e-mail, a company spokesman said "a limited number of nonmanufacturing employees in each of the functions across the business solely dedicated to the Skippy business … will be informed on an individual basis" if the sale will impact their jobs in New Jersey.