Kellogg company announces separation of two businesses as bold next steps in portfolio transformation
The company plans to separate into three independent companies, by spinning off its u.s., canadian, and caribbean cereal and plant-based businesses, which collectively represented approximately 20% of its net sales in 2021 the remaining business, which represented about 80% of net sales in 2021, is focused on global snacking, international cereal and noodles, and north america frozen breakfast this transaction represents another bold action toward transforming kellogg's portfolio to further enhance performance and value the proposed separations create greater strategic, operational, and financial focus for each company and its stakeholders, and will build on kellogg's current momentum battle creek, mich. , june 21, 2022 /prnewswire/ -- kellogg company (nyse: k) today announced that its board of directors has approved a plan to separate its north american cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies, each better positioned to unlock their full standalone potential.
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