Kellogg Company Announces Agreement to Acquire Procter & Gamble's Pringles ...
22.05.12
/PRNewswire/ -- Kellogg Company (NYSE: K) today announced that it has entered into an agreement to acquire Procter & Gamble's
Pringles ® business ("Pringles") 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.
Highlights of the acquisition include:
Pringles' brand strength and consumer appeal fit well with Kellogg Company's core strengths in brand-building and innovation, adding a complementary product to its high-quality snacks brands, most notably Keebler , Cheez-It and Special K Cracker Chips. In the U.S., the
Source: Sacramento Bee