Kellogg to Separate Into Three Businesses
Kellogg shares rose after the company said it plans to split itself into three publicly traded businesses.
Photo:
ANDREW KELLY/REUTERS
Kellogg Co.
K -0.19%
plans to split itself into three publicly traded businesses, as the food giant offers investors the option to back cereal, snacking and plant-based foods companies.
The three separate businesses would consist of one that encompasses Kellogg’s snacking business, including its international cereal and noodles as well as North America frozen breakfast. Another standalone business will house Kellogg’s North American cereal business and a third company with Kellogg’s plant-based foods business.
Kellogg on Tuesday said its board has approved the plan, which Chief Executive
Steve Cahillane
said would allow each company to direct resources to their respective opportunities.
Kellogg shares up 8.4% in premarket trading Tuesday.
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Kellogg shares rose after the company said it plans to split itself into three publicly traded businesses.
Photo:
ANDREW KELLY/REUTERS
Kellogg Co.
K -0.19%
plans to split itself into three publicly traded businesses, as the food giant offers investors the option to back cereal, snacking and plant-based foods companies.
The three separate businesses would consist of one that encompasses Kellogg’s snacking business, including its international cereal and noodles as well as North America frozen breakfast. Another standalone business will house Kellogg’s North American cereal business and a third company with Kellogg’s plant-based foods business.
Kellogg on Tuesday said its board has approved the plan, which Chief Executive
Steve Cahillane
said would allow each company to direct resources to their respective opportunities.
Kellogg shares up 8.4% in premarket trading Tuesday.
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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