Pringles sold for a crisp £1.4billion

by Ben Griffiths - 07/04/2011

"Billion dollar snack brand Pringles has been sold by American consumer giant Procter & Gamble to rival US food company Diamond, which gobbled up the business for £1.4bn."

Pringles, which was launched in 1968 and is best known in the UK for its ‘once you pop, you can’t stop’ marketing slogan, is the world’s biggest crisp brand with sales in more than 140 countries estimated at around $1.2bn a year.

It boasts a wide variety of flavours, from traditional sour cream and onion, to Fiery Wasabi and Flamin’ Chilli Sauce in the Pringles Xtreme range, which was launched by Emmerdale actress Roxanne Pallett, pictured, last year.

The combination will more than triple the snack business at California-based Diamond, which owns Kettle Chips, and create a company with revenues of more than $2.4bn.

The deal, which includes $1.5bn of Diamond shares and the assumption of $850m of debt, removes the last remaining food brand in P&G’s cupboard.

It previously offloaded Sunny Delight orange drink and Jif peanut butter while acquiring hair-care companies Clairol and Wella.


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