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General Mills buys small chip company
February 29, 2012 / 10:39 PM / 6 years ago

General Mills buys small chip company

NEW YORK, Feb 29 (Reuters) - Food company General Mills Inc pushed into the U.S. snack food market by acquiring the small chip maker Food Should Taste Good.

Terms of the deal, which closed on Wednesday, were not disclosed.

The acquisition of Food Should Taste Good -- which makes sweet potato chips and tortilla chips in flavors like lime, olive and jalapeno -- puts General Mills into more direct competition with the likes of PepsiCo’s Frito-Lay, Diamond Foods Inc, which owns Kettle chips, and Kellogg , which will soon own Pringles.

General Mills, whose other brands include Cheerios cereal, Nature Valley granola bars and Betty Crocker cake mixes, already competes fiercely with Kellogg, which makes Corn Flakes cereal and Kashi bars.

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