... Kellogg said it would explore other options for its plant-based business, including a possible sale...

 

 

Kellogg to Split Into 3; Snacks, Cereals, Plant-Based Food

Kellogg Co., the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods.

 

By Matt Ott, Associated Press

via U.S. News & World Report - June 21, 2022

 

SILVER SPRING, Md. (AP) — Kellogg Co., the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods.

 

Kellogg's which also owns MorningStar Farms, the plant-based food maker, said Tuesday that the spinoff of the yet-to-be-named cereal and plant-based foods companies should be completed by the end of next year.

 

Kellogg’s had net sales of $14.2 billion in 2021, with $11.4 billion generated by its its snack division. Cereal accounted for another $2.4 billion in sales last year while plant-based sales totaled around $340 million.

 

“These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” said CEO Steve Cahillane.

 

Cahillane will become chairman and CEO of the global snacking company. The management team of the cereal company will be named later. The board of directors has approved the spin-offs.

 

Shareholders will receive shares in the two spin-offs on a pro-rata basis relative to their Kellogg holdings.

 

Kellogg said it would explore other options for its plant-based business, including a possible sale...

 

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https://www.usnews.com/news/business/articles/2022-06-21/kellogg-to-split-into-3-snacks-cereals-plant-based-food