Kellogg Buys Pringles For $2.7 Billion?

Kellogg Hoping Once It Pops, The Fun Won’t Stop - Deal Journal - WSJ "Kellogg has swooped in to scoop up Pringles from Procter & Gamble today for $2.7 billion in cash after Diamond Food’s deal cracked amid its accounting trouble."

Really? $2.7 billion? For Pringles? Apparently even a decade ago, Pringles was one of only 43 brands with a billion dollar global presence. "There were three snack foods that registered over a billion dollars in global sales (Doritos, Lay's and Pringles)."

Deutsche Bank said about the Kellogg's deal, “Based on our estimates Snacks will now represent 46% of total sales incl. Pringles, vs. the previous 40% figure. This is important as almost all cultures embrace snacks while few globally embrace cereal.“

None of this makes any sense to me.