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