In an attempt to make their company one big, happy, snacky family, Kellogg is shelling out $2.7 billion in straight-up cash to buy the Pringles line from Procter & Gamble. As long as they don’t try to take the chips out of the can or do anything else drastic, not much should change so far as the munching experience.
P&G sounds positive about letting Pringles go, and hey, anyone would be happy with a few billion extra lining the old bank account.
“Kellogg shares similar values and principles to us,” P&G Chairman and CEO Bob McDonald said a news release, via Forbes, “and we are confident that the Pringles business will thrive under Kellogg’s leadership.”
Kellogg has a modest toehold in the snack arena already, with Keebler, Cheez-it and Special K crackers. But there’s always room for more, thus the adoption of Pringles.
“Pringles has an extensive global footprint,” said Kellogg President and CEO John Bryant. This will allow Kellogg “to achieve our objective of becoming a truly global cereal and snacks company,” he said.
Like we said –¬†just keep those delicious chips in their can. We don’t need any crumbling messes on our hands.