Procter & Gamble Co have recently announced that they are selling off one of their food subsidiary Pringles Chips for a deal worth $1.5 billion.
This business deal has been speculated for years now, as Proctor & Gamble Co have noted recently that the food industry just doesn’t fit in with their big consumer market portfolio.
Diamond Foods Inc, the company who purchased Pringles Chips, stated that the business transaction will more than triple their market share in the snack food business and will help boost their annual revenue.
Pringles isn’t the only food product sold off by Procter & Gamble Co in recent years. Sunny Delight, Crisco shortening and Folgers coffee are a few more food products sold off my Procter & Gamble as they move to focus more on their consumer products such as Tide and Gillette.