This would create the world's largest agricultural supplier.
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The companies announced a merger in April, and now they're parting ways.
Anheuser-Busch InBev and SABMiller have formalized their $106 billion merger.
It was the third attempt by Anheuser-Busch InBev to buy its rival.
Anheuser-Busch InBev wants to merge with SABMiller to create the world's largest brewing company with what will likely also be the world's most complicated name.
Hormel will pay $775 million for Applegate Farms.
It will create the world's fifth-largest food company.
According to a new report from a corporate taxpayer watchdog group.
And that figure isn't even in Canadian dollars.
Plus, how does Tony Tone feel about being labeled a "celebrity chef"?