Kellogg to Buy Pringles from P&G
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The Proctor and Gamble Company, which includes a plant here in Jackson, has sold the Pringles Brand to a buyer other than Diamond Foods. Officials announced Wednesday the Kellogg Company has agreed to buy Pringles Potato Chips from P&G for $2.7 billion in cash. Their sale will allow the household goods maker to get out of the food business. An earlier deal with Diamond Foods to buy Pringles fell apart due to improper accounting procedures . Diamond Foods and Procter & Gamble says they mutually agreed to end their proposed deal. When the deal is complete, Kellogg will triple its international snack business. The Kellogg snack offerings already includes Keebler Cookies and Townhouse Crackers. “We want to see this plant grow. They certainly have the capability to make it grow, paying roughly 2.7 billion for the plant,” said Jackson Mayor Jerry Gist. “It’s a huge company and we want to help them and partner with them to help grow this plant locally.” The deal should close by summer with about 1,700 P&G employees moving to Kellogg.
