San Francisco’s Diamond Food Buys Pringles

Diamond Foods, the San Francisco-based company, has made a deal to purchase Procter & Gamble’s Pringles chips for $1.5 billion.

Procter & Gamble has been slowing pulling away from the food industry, with their sales of various other food companies such as Crisco, Jif, Sunny Delight and Folgers. The Pringles sale ends the process.
Diamond expects the Pringles to triple (at least) their yearly revenue, upping it to around $2.4 billion.

“Pringles is an iconic, billion-dollar snack brand with significant global manufacturing and supply chain infrastructure,” said Michael J. Mendes, President, Chairman and CEO of Diamond Foods.

What About the Jackson Employees?

Diamond’s communications consultant Richard Simonelli has implied that the company will continue to make Pringles in Jackson.

“We are buying the Pringles business because we think it’s a terrific brand, and we look forward to working with the talented Pringles employees who have built the brand over time,” Simonelli said in an email. “We have a history of investing in and building brands and expect to follow our historic strategy with the Pringles brand.”

Jackson’s mayor Jerry Gist said that Procter & Gamble currently have more than 800 employees in Jackson, as well as 200 subcontractors.

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