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Mergers & Acquisitions

Apr. 7, 2011

Diamond Foods Buys Pringles

Diamond Foods Inc. continued to devour snack companies with Tuesday's $2.35 billion merger with the Procter & Gamble Co.'s Pringles unit.


By Robert Pierce


Daily Journal Staff Writer


SAN FRANCISCO - Diamond Foods Inc. continued to devour snack companies with Tuesday's $2.35 billion merger with Procter & Gamble Co.'s Pringles unit.


After acquiring microwave popcorn-maker Pop Secret in 2008 and Kettle brand potato chips in 2010, Diamond tripled its snack business by merging with Pringles. In a reverse Morris Trust transaction, Diamond shareholders will own roughly 43 p...

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