Procter & Gamble to sell Pringles to Diamond Foods
Procter & Gamble Co
said it will sell its Pringles business to Diamond Foods Inc
The addition of Pringles to Diamond's portfolio will more than triple the size of Diamond's snack business, and bring in net sales of about $2.4 billion for the fiscal 2011, the company said.
Diamond expects to take up one-time costs of about $100 million related to the transaction over the next two years.
(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Jarshad Kakkrakandy)
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