The acquisition strengthens Kellogg's snacks business - complementing its snacks brands such as Keebler, Cheez-It and Special K Cracker Chips.
This deal nearly triples its international snack business, making Kellogg the world's second-largest savory snacks player. It will give Kellogg control over two manufacturing plants in Tennessee, US, and Belgium.
Kellogg president and CEO John Bryant said the acquisition offers exceptional employees, world-class manufacturing facilities, iconic brand awareness, and a tremendous platform for growth.
"The addition of Pringles to our portfolio significantly advances the company's strategic goal of building a global snacks business on par with our global cereal business, and expanding our global footprint," Bryant added.
Pringles is the second-largest brand in the savory snacks segment, just behind PepsiCo's Frito-Lay division, with $1.5bn in sales across more than 140 countries and manufacturing plants in the US, Europe and Asia.
With completion of the sale, the Pringles workforce including the manufacturing resources in Jackson, Tennessee, and Mechelen, Belgium, will transfer to Kellogg.
