Procter & Gamble (NYSE:PG) announced an agreement to sell its Pringles business to Kellogg (NYSE:K) in a deal valued at approximately $2.7 billion.Kellogg said it will take on $2 billion in debt to finance the purchase of the Pringles unit from P&G.Kellogg expects the deal to be accretive to earnings by $0.08 – $0.10 per share before costs in 2012.P&G had in April 2011 reached an agreement to sell the unit to Diamond Foods (NASDAQ:DMND) for $1.5 billion.P&G expects an after tax gain on the transaction of $1.4 billion – $1.5 billion, or $0.47 – $0.50 per share.