Kellogg Company Takes Next Steps in Portfolio Transformation
The company will separate its North American cereal and plant-based foods businesses, resulting in three independent public companies
Kellogg Company announced that its board of directors has approved a plan to separate its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies, each better positioned to unlock full standalone potential. The three companies, whose names will be determined later, would be the following:
"Global Snacking Co.", with about $11.4 billion* in net sales, will be a leading company in global snacking, international cereal and noodles, and North America frozen breakfast, with iconic, world-class brands and strong underlying growth momentum and profitability;