Minnesota-based Hormel to acquire Planters

AUSTIN, Minn. (KVRR) – Minnesota-based Hormel Foods has an agreement to purchase Planters from Kraft Heinz for $3.35 billion.

The deal include brands such as Planters, NUT-rition, Corn Nuts, Skippy and Wholly Guacamole.

The sale is expected to close later this year and is subject to regulatory approval.