Kellogg Is Attempting To Buy Diamond Foods For $1.5 Billion

Kelloggs Attempting to buy Diamond Foods

Kellogg is hoping to expand beyond breakfast foods with the $1.5 billion purchase of snack foods company Diamond Foods.

According to the New York Post, the company will pay¬†$35-$40 a share, or a premium of up to 22% based on Diamond’s Thursday close.

Following news of the possible acquisition shares of the Kettle potato chips and Pop Secret popcorn maker increased by 6%.

Diamond Foods had hired Credit Suisse to help explore a sale.

Revenue at Diamond Foods missed analysts’ estimates for the last four quarters. It also exited its low-margin nut products business in early 2015.

Kellogg’s strategy for expansion has mostly involved purchasing other food businesses both nationally and internationally.


Diamond’s biggest shareholders include hedge fund Oaktree Capital Management, with a 14 percent stake, and BlackRock Institutional Trust Co, with a nearly 7 percent stake.

20 Hidden Ways Business Professionals Struggle With Pain

Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at