Kellogg Co., Battle Creek, Mich., entered into an agreement to acquire Procter & Gamble’s Pringles business for $2.695 billion.
Kellogg established a strong U.S.-based snacks business when it purchased the Keebler line more than a decade ago. Therefore, the Pringles brand awareness and consumer appeal will fit well with Kellogg’s core strengths in brand-building and innovation, adding a complementary product to its high-quality snacks such as Keebler, Cheez-It and Special K cracker chips.