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Published January 03, 2013, 11:27 AM

Hormel buying No. 2 peanut butter Skippy for $700 million

Hormel Foods apparently has a hankering for a peanut butter and bacon sandwich. The company primarily known for Spam and other cured, smoked and deli meats said Thursday that it's buying Skippy, the country's No. 2 peanut butter brand, in its biggest-ever acquisition.

By: Candice Choi and Michelle Chapman, Associated Press

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