Kellogg Company has completion of its acquisition of Procter & Gamble’s Pringles business. The $2.69 billion acquisition further strengthens Kellogg Company’s competitive position in global snacks, making Kellogg the world’s second-largest savoury snacks player.
“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,” says John Bryant, Kellogg Company’s president and chief executive officer.
The Pringles acquisition nearly triples the size of Kellogg Company’s 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 savoury snacks, with $1.5 billion in sales across more than 140 countries. It is easily identified by its unique saddle shape and distinct canister packaging, and has more than 80 flavours.