An affiliate of private equity firm Peak Rock Capital is acquiring food service company Diamond Crystal Brands Inc. from Hormel Foods Corporation (NYSE: HRL). The deal, for undisclosed terms, is slated to close in the second quarter.

DCB, based in Savannah, Georgia, offers a range of portion-control and single-serve foods and beverages, including Skippy peanut butter in a cup. Hormel purchased DCB for $65 million in cash from Sugarland,Texas-based Imperial Sugar Co. in 2001. 

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