P&G Sheds Pringles

Proctor and Gamble Co. settled on a $1.5 billion deal with Diamond Food Inc. This deal marks P&G's exit from the food business, while Diamond inherits $850 million worth of Pringles debt. this deal will be structured to minimize the tax impact on the Proctor and Gamble share holders. The company will split of an entity to own the Pringles business and merge it with Diamond. This deal should solidify P&G standing in the Household industry as now it is completely out of the food industry and could focus more of its products towards its strong point, Household nondurables.