Wednesday, April 6, 2011

Pringles sold for $1.5 Billion

Diamond Foods Inc. took its biggest bite yet of the snack business with a $1.5 billion deal to buy the Pringles brand from Procter & Gamble Co.

The deal is the biggest in a stack of acquisitions for Diamond and will more than triple the size of the maker of Emerald nuts and Pop Secret popcorn.

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