Kellogg to split snack, cereal, food biz
Battle Creek, June 21
Kellogg Co, the maker of Frosted Flakes, Rice Krispies and Eggo, will split into three companies focused on cereals, snacks and plant-based foods.
Has $14.2-bn revenue
- Kellogg’s had net sales of $14.2 bn in 2021, with $11.4 bn generated by its snack division
- Cereal accounted for $2.4 bn while plant-based sales totalled around $340 m
Kellogg’s which also owns MorningStar Farms, the plant-based food maker, said Tuesday the spinoff of the yet to be named cereal and plant-based foods companies should be completed by the end of next year.
Kellogg’s had net sales of $14.2 billion in 2021, with $11.4 billion generated by its snack division. Cereal accounted for another $2.4 billion in sales last year while plant-based sales totalled around $340 million.
“These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities,” said CEO Steve Cahillane.
The company’s headquarters will move from Battle Creek, Michigan, to Chicago, but it will maintain dual headquarters in both cities for its snack division, which makes up about 80% of current sales. — AP
