Kellogg has finalised its $2.7bn (£1.8bn) deal with P&G to acquire Pringles, a deal that makes the company the second biggest player in the savoury snacks market by sales, reports Marketing Week.
"The acquisition will move Pringles 1,700 employees to Kellogg, including marketing and executive teams. Pringles is said to be the world’s second biggest savoury snack with sales of $1.5bn (£981m) in more than 140 countries. It is Kellogg’s second largest brand now after Special K by sales."
John Bryant, Kellogg Company’s president and chief executive, says: “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.”
Friday, June 01, 2012
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