Kelloggs Finalizes $2.7 Billion Pringles Acquisition

BATTLE CREEK, Mich.On May 31, Kellogg Company completed its $2.7-billion acquisition of Procter & Gamble's Pringles® business, a move that expands Kelloggs snacks business and enhances its global footprint as the second-largest snacks company in the world.

The Pringles acquisition nearly triples the size of Kelloggs international snacks business, and adds a complementary product to the company's high-quality snacks brands including Keebler, Cheez-It and Special K Cracker Chips. Pringles is the world's second largest player in savory snacks, with $1.5 billion in sales across more than 140 countries.

Commenting on the deal, Kelloggs President and CEO John Bryant, said: "In Pringles, Kellogg has acquired a terrific business, with exceptional employees, world-class manufacturing facilities, iconic brand awareness, and a tremendous platform for growth. The addition of Pringles to our portfolio significantly advances the company's strategic goal of building a global snacks business on par with our global cereal business, and expanding our global footprint."