Diamond Foods will purchase the Pringles brand from Procter & Gamble for $1.5 billion, making Diamond Foods the second-largest global snack company. Diamond Foods is the maker of Emerald nuts, Pop Secret Popcorn and Kettle Brand chips. Over the past 10 years, P&G has divested brands such as Jif, Crisco, Folgers and Sunny Delight.

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