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Report: Kraft Heinz to sell Planters brand

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Kraft Heinz Co. is nearing a deal to sell its Planters snack business, people familiar with the matter told The Wall Street Journal.

The sources said Skippy peanut butter owner Hormel Foods Corp. is seeking to buy Planters in a deal that values the brand at $3 billion.

The acquisition agreement could be announced as soon as next week.

Read more from The Wall Street Journal.

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