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.

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