Unilever completes sale of Skippy brand to Hormel in most markets

Deal remains subject to regulatory approval in China

ENGLEWOOD CLIFFS, N.J. — Unilever has mostly completed its sale of the Skippy peanut butter brand to Hormel Foods, the company said Friday.

The conglomerate said it had completed the $700 million sale of the global business, except for China, where it remains subject to regulatory approval and is expected to close later this year.

The two companies announced the deal on Jan. 3, including the brand's trademarks and two factories, in the United States and China.

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