- Kellogg plans to split the company into three separate, publicly traded businesses, the CPG said in a statement. The separation is expected to be completed by the end of 2023.
- The company will spin off its North American cereal operation and plant-based division. The remaining business will house its snacks, international cereal, noodles and North American frozen breakfast brands. No names of the new companies have been determined. Steve Cahillane, the current CEO of Kellogg, will lead the snacking business, which was responsible for about 80% of the company’s net sales in 2021.
- In addition to a possible spinoff, Kellogg said it is exploring other strategic alternatives for its plant-based business anchored by the MorningStar Farms brand, including a possible sale.
This is a developing story and will be updated shortly.