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Little checkerboard squares of rice, corn, and wheat are worth big bucks! In 1996 General Mills paid $570 million to Ralston Purina for the entire brand of Chex cereals and snack mixes. As it turns out, developing these cereals into a convenient snack mix brand was a smart move. When I was a kid the only way to get Chex Mix was to make it myself from a recipe on the box of Chex Cereal. Today Chex Mix comes in nearly a dozen different flavors, including chocolate, cheddar, honey nut, and hot & spicy. But a home version using the recipe on the cereal box never tastes the same as the stuff in the bags. That's because the recipe leaves out a very important secret ingredient: MSG, or monosodium glutamate. This amino acid salt enhances the other flavors in the bag and gives the snack mix its addictive savory taste. You can find MSG in grocery stores near the salt (Accent Flavor Enhancer is one popular brand name). Add a little of that to your creative mix of Chex Cereal, pretzels, crackers, and bread sticks, along with some white cheddar popcorn seasoning, soy sauce, Worcestershire sauce, and a few other common ingredients, and you'll have quickly cloned one of the most popular Chex Mix flavors.
Source: Top Secret Recipes Unlocked by Todd Wilbur.