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

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AUSTIN, Minn. (AP) — Hormel Foods apparently has a hankering for a peanut butter and bacon sandwich. The company primarily known for cured, smoked and deli meats said Thursday that it's buying Skippy, the country's No. 2 peanut butter brand, for about $700 million.

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