The Kraft Heinz Co (LTS:0JRV)

$ 34.6 -0.2725 (-0.78%) Market Cap: 42.47 Bil Enterprise Value: 61.51 Bil PE Ratio: 22.52 PB Ratio: 0.87 GF Score: 68/100

Hormel Foods Corp To Acquire the Planters® Snack Nuts Business - M&A Call Transcript

Feb 11, 2021 / 04:00PM GMT

Release Date Price: $35.99 (+6.08%)

Transcript 10-K8-K

Operator

Good morning, and welcome to the Hormel Foods Conference Call and Webcast. (Operator Instructions) Please note, this event is being recorded. I would now like to turn the conference over to Nathan Annis. Please go ahead.

Nathan P. Annis

Hormel Foods Corporation - Director of IR

Good morning. Welcome to the Hormel Foods conference call to announce the signing of a definitive agreement to acquire the Planters snack nut portfolio from The Kraft Heinz Company. The acquisition includes the Planters, Nut-rition, Planters Cheez Balls and Corn Nuts brands.

To accompany our comments this morning, we have posted a presentation and press release to our investor website, which can be accessed directly by going to hormelfoods.com and selecting the Investors section. On our call today is Jim Snee, Chairman of the Board, President and Chief Executive Officer; and Jim Sheehan, Executive Vice President and Chief Financial Officer. Jim Snee will provide an overview of the business and the strategic rationale for the acquisition. Jim Sheehan will review financial

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