Kellogg has announced plans to split up into three separate companies by spinning off its North American cereal and plant-based businesses in hopes of enhancing “performance and value.”
The Michigan-based Kellogg Company said in a statement Tuesday that its board has approved a plan to divide its business into three independent public companies, “each better positioned to unlock their full standalone potential.”
While the names of the new companies are to be determined later, Kellogg noted the following placeholders: “Global Snacking Co.,” “North America Cereal Co.,” and “Plant Co.”
“These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” Steve Cahillane, Kellogg Company CEO said in a statement….