Hormel Foods closes acquisition of Justin’s

Hormel Foods Corporation has closed the acquisition of Justin’s, a manufacturer of nut-butter based snacks.

Hormel Foods was advised by HT Capital Advisors, while Justin’s was advised by Piper Jaffray & Co.

The acquisiiton was announced last month. Financial terms of the deal were not disclosed.

Justin’s is the owner of the Justin’s brand, which offers nut-based spreads, squeeze packs, peanut butter cups and snack packs.

With the closure of the deal, Michael J Guanella has been appointed as chief operating officer of Justin’s. Guanella was serving as senior brand manager at Hormel Foods and was responsible for Skippy peanut butter.

In 2013, he led the integration of the Skippy brand and has been responsible for brand strategy, consumer marketing and product innovation in the US retail market.

Justin’s president and chief executive officer Peter Burns said: "We are excited to welcome Mike to the Justin’s team.

"Mike’s expertise in innovation, operations and product development will be a welcome addition to our mission. We are confident that he will bring new opportunities to the Justin’s family of products."

Hormel Foods is an Austin-based company that manufactures and markets food and meat products.

Hormel Foods group vice-president of grocery products James M Splinter said: "Mike has led the Skippy brand to a new level of innovation, growth and market share. Congratulations to him on this new role with Justin’s. I am confident that he will be an excellent addition to their talented team of professionals."