Kellogg announced plans on Wednesday to buy Procter & Gamble‘s Pringles business for $2.695 billion, after a previous deal with Diamond Foods fell apart.
The new deal comes a week after Diamond announced it would restate its financial statements for the last two years following an internal inquiry into the company’s accounting practices. Soon after, Procter & Gamble said it was re-evaluating a sale of Pringles.
Pringles has been stuck in limbo for months.