Kellogg’s Looks to Score Pringles Deal: Outlook Good
Diamond Foods has been through a lot this last year, especially with the replacement of their CEO and CFO due to internal problems within the company regarding finance. Diamond Foods, which is known for producing Pop Secret Popcorn, Emerald Brand Nuts, and Kettle Brand Potato Chips, now have lost their proposed acquisition of Procter & Gamble’s Pringles. The deal was worth $1.5 billion dollars.
This is great news, however, for Kellogg’s who has plans on acquiring a contract with the brand. The $2.7 billion dollar all-cash transaction will be expected to be completed by the summer of this year.
Does this mean big changes are in store for our delicious potato chips? Will we get more flavors? Different textures? Less hands stuck in jars? All I know is, the snack industry takes their chips very seriously.
via: Huffington Post
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