Pepsi Buys Muscle Milk in New CEO's First Move
(Bloomberg) -- PepsiCo Inc.’s new Chief Executive Officer Ramon Laguarta has made his first acquisition, purchasing the maker of sports and wellness products Muscle Milk from Hormel Foods Corp. for an undisclosed amount.
- Hormel Foods -- the maker of Spam and Skippy peanut butter -- announced the sale of its CytoSport unit in a statement Tuesday. The deal is expected to close in 30 to 60 days.
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