- (PLX AI) - Kellogg to split into 3 independent companies.
- • Kellogg spinning off its U.S., Canadian, and Caribbean cereal and plant-based businesses, with 20% of net sales
- • Kellogg remaining business focused on global snacking, international cereal and noodles, and North America frozen breakfast, with 80% of net sales
- • "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
- • "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
- • "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
- • The proposed spin-offs are intended to result in tax-free distributions of North America Cereal Co. and Plant Co. shares to Kellogg Company shareholders by end of 2023
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