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Published January 03, 2013, 12:00 AM

Hormel Foods CEO Jeff Ettinger

Hormel Foods CEO Jeff Ettinger addresses the media Thursday morning, Jan. 3, 2013, at Hormel Corporate North in Austin, Minn. Hormel Foods, 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, for about $700 million. (AP/Austin Daily Herald, Eric Johnson)
Read the article: Hormel buying No. 2 peanut butter Skippy for $700 million