Kellogg Company (NYSE:K) has struck an agreement to buy Pringles potato chips.

Kellogg Company Pops The Top On Pringles Deal

To boost its international snacks business, the cereal maker Kellogg Company (NYSE:K) has signed an agreement to buy Pringles potato chips from Procter & Gamble.

The company will acquire the division for $2.7 billion in cash, which will triple its global snacks business size.

Kellogg Company (NYSE:K) is the world’s largest cereal maker, producing the popular Special K and Rice Krispies brands.

The company chief executive John Bryant did not provide further details of the deal.

Kellogg Company (NYSE:K) stocks were at 52.53 at the end of the last day’s trading. There’s been a 6.4% change in the stock price over the past 3 months.

Kellogg Company (NYSE:K) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: 2.5
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2.21
Zack’s Rank: 8 out of 44 in the industry