The deal could be announced as soon as next week if talks do not fall apart, the Journal said, adding that the deal would be Hormel’s largest to date.

Planters, which mainly sells nuts and snack mixes with labels featuring its popular Mr. Peanut mascot, would be the latest addition to Hormel’s portfolio that includes chillis, frozen meats and condiments.

Sales of pantry staples surged at the beginning of the COVID-19 pandemic as consumers prepared for lockdowns, but have since waned as restrictions were lifted, leading to companies restructuring their businesses accordingly.

Kraft Heinz in September sold its natural cheese business and certain others to France’s Groupe Lactalis for US$3.2 billion, while Mondelez International bought chocolate-bar maker Hu Master Holdings last month.

Kraft and Hormel declined to comment on the report.

— Reporting for Reuters by Nivedita Balu in Bangalore.

The post Kraft Heinz reported in talks to sell Planters snack business appeared first on Grainews.

Chief Judge John Tunheim of the federal court in Minneapolis said the plaintiffs failed to show “parallel conduct” to support an inference that the companies conspired illegally.

The defendants included Hormel Foods, JBS USA, Smithfield Foods and Tyson Foods, among others.

Tunheim’s decision covered 13 lawsuits brought on behalf of three groups of plaintiffs.

These included ordinary consumers who bought pork at grocery stores or through other channels for their own use, purchasers who bought pork directly from the companies, and “indirect” purchasers who bought pork for commercial food preparation.

Lawyers for the plaintiffs did not immediately respond to requests for comment.

The dismissal was without prejudice, meaning the plaintiffs may amend their complaints.

— Reporting for Reuters by Jonathan Stempel in New York.

The post Packers win dismissal of U.S. pork price-fixing suits appeared first on Grainews.

Smithfield will buy Clougherty Packing as well as hog farm operations under PFFJ, or Pigs for Farmer John, in California, Arizona and Wyoming, expanding its supply chain in the U.S.

The businesses being acquired contributed about $500 million in sales and about three cents per share in earnings to Hormel in fiscal 2016 (all figures US$).

Smithfield, bought by WH Group in 2013 for $4.7 billion, is the world’s largest pork processor and hog producer.

“While the businesses have performed well, they no longer align with our company’s growth strategies,” Hormel CEO Jim Snee said in a statement.

Hormel — best known as the maker of Spam luncheon meat, and owner of Clougherty Packing since 2004 — said Farmer John harvests about 7,400 hogs per day.

Shares of Hormel Foods were marginally up at $35.10 in after-hours trading on Monday.

— Reporting for Reuters by Jessica Kuruthukulangara in Bangalore.

The post Smithfield Foods to buy Farmer John from Hormel appeared first on Grainews.

USDA did not provide a date on which China will resume the imports.

China’s decision will “mean a significant boost in sales for American pork producers,” the USDA said. The agency touted “China’s recognition of strong regulatory controls and the high quality of U.S. pork.”

The six U.S. processing plants and eight cold storage facilities affected by China’s decision participate in U.S. programs under which they do not use the feed additive ractopamine, which promotes lean muscle growth in hogs, according to USDA.

China prohibits imports of pork produced from hogs that were fed ractopamine, and last year barred shipments from several U.S facilities to enforce the ban. The restrictions affected plants owned by Tyson Foods and Hormel Foods.

A Tyson spokesman had no immediate comment. Hormel representatives could not immediately be reached for comment. The U.S. Meat Export Federation, an industry group, also had no immediate comment.

U.S. pork exports to China last year were valued at more than US$474 million, according to the USDA.

— Reporting for Reuters by Tom Polansek in Chicago.

The post China to resume imports from U.S. pork plants appeared first on Grainews.