By Joshua Manning • 21 June 2022 • 17:47
US Cereal GIANT Kelloggs to separate into three different companies
Credit: Creative Commons
Kelloggs’ new companies will see one firm focus on general snacks in North America, a second on cereal sales in North America and the Caribbean, and the third specialising in plant-base flood according to an official statement.
The new companies are yet to be officially named, but according to their initial names, this is what they will each carry out:
“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.
“North America Cereal Co.”, with about $2.4 billion in net sales, will be a leading cereal company in the U.S., Canada, and Caribbean, with a portfolio of iconic, world-class brands and compelling opportunities for investment and profit growth.
“Plant Co.”, with about $340 million* in net sales, will be a leading, profitable, pure-play plant-based foods company, anchored by the MorningStar Farms brand, with a significant opportunity to capitalize on strong long-term category prospects by investing further in North America penetration and future international expansion.
Steve Cahillane, Kellogg Company’s Chairman and Chief Executive Officer stated:
“Kellogg has been on a successful journey of transformation to enhance performance and increase long-term shareowner value. This has included re-shaping our portfolio, and today’s announcement is the next step in that transformation.”
“These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities. In turn, each business is expected to create more value for all stakeholders, and each is well positioned to build a new era of innovation and growth.”
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Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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