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Exits food business with close of $2.7 billion Pringles deal.
June 1, 2012
By: TOM BRANNA
Editor
The chips are gone.The Procter & Gamble Company has completed the sale of its Pringles business to Kellogg in a nearly $2.7 billion all-cash transaction. The company expects an after-tax gain on the transaction in the range of $1.4 billion to $1.5 billion, or approximately $0.47 to $0.50 per share. P&G wanted to sell of the snack line to concentrate solely on household and consumer care products, and initially planned to sell the potato chips brand to Diamond Food. That de...
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