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Reports: Hormel Could Buy Ragu

Updated: 03/24/2014 12:33 PM
Created: 03/24/2014 1:00 PM KAALtv.com

(ABC 6 NEWS) -- A report by Bloomberg business news show Hormel Foods is in the running to buy Ragu.

Famous for its pasta sauces, Ragu parent company Unilever has put the brand up for auction. The cost could be in the $2 billion dollar range.

Bloomberg reports that bids are due by the end of next week.

Other companies looking to buy include Smuckers, Hillshire, and Pinnacle.

We contacted Hormel about the report, and in an email were told, "We do not comment on acquisitions."

Ragu