Kellogg completes acquisition of Pringles brand from P&G

Nevin Barich

BATTLE CREEK, Michigan , May 31, 2012 (press release) – Highlights:

* Pringles acquisition makes Kellogg the world's No. 2 savory snacks player; nearly triples company's international snacks business
* Today's Pringles acquisition is an important step forward in Kellogg strategy to expand snacks business and enhance global footprint
* Talented Pringles employees to strengthen Kellogg global snacks business through acquisition finalized today

Kellogg Company (K) today announced the completion of its acquisition of Procter & Gamble's Pringles® business. The $ 2.695 billion acquisition further strengthens Kellogg Company's competitive position in global snacks, making Kellogg the world's second-largest savory snacks player(1).

"In Pringles, Kellogg has acquired a terrific business, with exceptional employees, world-class manufacturing facilities, iconic brand awareness, and a tremendous platform for growth," said John Bryant , Kellogg Company's president and chief executive officer. "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."

The Pringles acquisition nearly triples the size of Kellogg Company's international snacks business, and adds a complementary product to the company's high-quality snacks brands including Keebler, Cheez-It and Special K Cracker Chips.

Pringles is the world's second largest player in savory snacks, with $1.5 billion in sales across more than 140 countries. Easily identified by its unique saddle shape and distinct canister packaging, and with more than 80 flavors, snack lovers worldwide have made Pringles a snack aisle favorite for more than four decades.

"The Pringles team embodies the same values and passion for growth that have driven the people of Kellogg for more than a century," said Bryant. "We are excited to welcome these talented team members to Kellogg and work together to build a truly global snacks platform with tremendous potential for growth."

About Kellogg Company

Driven to enrich and delight the world through foods and brands that matter, Kellogg Company (K) is the world's leading producer of cereal, second largest producer of cookies and crackers and - through the May 2012 acquisition of the iconic Pringles® business - the world's second largest savory snacks company. In addition, Kellogg is a leading producer of frozen foods. Every day, our well-loved brands - produced in 18 countries and marketed in more than 180 countries - nourish families so they can flourish and thrive. With 2011 sales of more than $13 billion , these brands include Cheez-It®, Coco Pops®, Corn Flakes®, Eggo®, Frosted Flakes®, Kashi®, Keebler®, Kellogg's®, Mini-Wheats®, Pop-Tarts®, Pringles®, Rice Krispies®, Special K®, and many more. To learn more about Kellogg Company, including our corporate responsibility initiatives and rich heritage, please visit www.kelloggcompany.com.

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