Justin's, Maker Of Nut Butter, To Stay In Colorado Under Hormel Deal
BOULDER, Colo. (AP) — The founder of Colorado nut butter maker Justin's says the company will remain in Boulder and maintain its values after it's bought by Hormel Foods.
The Austin, Minnesota-based food giant and maker of Skippy peanut butter announced Wednesday that it has reached a deal to buy Justin's for $268 million.
Justin's got its start at the Boulder Farmers' Market over a decade ago. In a post on his company's blog, Justin Gold wrote that he wanted a partner to help it continue to grow but stay in Colorado and remain an independent operating unit. He says he will stay with the company.
Hormel, which also sells products like Spam and Muscle Milk, bought organic meats producer Applegate Farms last year. It hopes Justin's will help it reach younger, health-conscious customers.
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