Kellogg steps in to gobble up Pringles

摘要

Cereal company Kellogg has stepped in to buy Pringles from Procter and Gamble (P&G) following the collapse of a previous deal with Diamond Foods. The proposal is worth $2.7billion (€2 billion) and the transaction is expected to be completed this summer. "The advantage of this [Kellogg] deal at this time is that with a cash transaction it gets done very quickly," said P&G chief executive Bob McDonald.