Wachtell Helps Kellogg Pop Top On $2.7B Pringles Buy

Law360, New York (February 15, 2012, 1:28 PM EST) -- The Procter & Gamble Co. has struck a $2.7 billion cash deal to sell its Pringles brand to Kellogg Co., the companies said Wednesday, as P&G scrapped a plan to sell the crisp business to Diamond Foods Inc. 

Battle Creek, Mich.-based Kellogg said its purchase, which puts the globally available snack in its corporate pantry alongside household names including Keebler and Cheez-It, advances the company's goal of building a global snacks business that rivals its cereal business.

"Pringles has an extensive global footprint that catapults Kellogg...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.