Kellogg’s acquires Pringles from P&G

 

 

 

Kellogg’s would be acquiring snack brand Pringles from Proctor & Gamble Co – for $2.7 billion. Following this deal Kellogg’s would be  amongst the leading players in the global snack market, second only to PepsiCo.

P & G has been dominant in categories such as household and personal care and for the company this transaction will mean an exit out of the food, snacks business. Previously Proctor & Gamble Co, had been in talks with Diamond Foods Inc., for the deal, however the deal could not materialize.

The $2.7 billion deal announced Wednesday is subject to federal approval and may take place around June 2012. The transition will lead to the movement of about 1,700 Pringles employees to Kellogg’s.

What's your take on this post ? Comment: