Kellogg To Reportedly Acquire Diamond Foods

Kellogg Co. is reportedly in late-stage talks to acquire Diamond Foods, maker of Kettle brand potato chips, according to The New York Post.

Sources close to the matter told The Post that Kellogg is, “Somewhere between aggressive and desperate to use mergers to try to evolve its business away from breakfast cereal.” Breakfast foods currently represent roughly 20 percent of Kellogg’s net sales in the U.S.

The deal would place Kellogg further into the snack foods arena, The Post wrote.