Hormel Foods is buying Skippy, the country's number two peanut butter brand, from Unilever for about $700 million. Skippy debuted on the market in 1932 and is a staple in American pantries. Hormel says it hopes the brand will boost its presence in the center aisles of the supermarket, where shelf-stable foods are sold. It also gives the company a clearer path for growth overseas, where Hormel is also looking to expand its Spam line, reports The Associated Press.

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Ahh, pastries, donuts, brownies, snack cakes, cupcakes, where do we stop? There’s nothing like having a sweet treat like these every so often. But consumers are cutting back, as sweet goods are losing market share, according to data from the Perishables GroupFreshFacts.