Kellogg Company Announces Agreement to Acquire Procter & Gamble's Pringles Business for $2.695B

Kellogg Company

today announced that it has entered into an agreement to acquire Procter & Gamble's

Pringles® business for $2.695 billion. Pringles is an excellent strategic fit for Kellogg Company. It significantly advances the company's goal of building a global snacks business on par with its global cereal business. Kellogg has established a strong U.S.-based snacks business since its successful acquisition of Keebler more than a decade ago. With the acquisition of Pringles, the company will build a truly global snacks platform and organization for further growth.